$STM Said to Be Looking to Raise $500 Million for Restructuring Purposes

“STMicroelectronics NV (STM), Intel Corp. (INTC)’s largest competitor in Europe, will spend as much as $500 million to exit its unprofitable wireless-chip venture with Ericsson AB (ERICB), as demand starts to recover in other segments.

The semiconductor manufacturer, based in Geneva, is finalizing plans to pull out of ST-Ericsson by the third quarter. Shutting down the venture is one of the options being considered, Stockholm-based Ericsson has said…”

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