Samsung Electronics Co is reported to be trying to sell its stake in semiconductor packaging plant Portugal JV and is hoping Korean semiconductor outfit Anam Group will be the buyer. But according to a Reuters report, Anam rejected a similar proposal last year and has no intention of changing its mind. However, a Samsung spokesperson said the companies have signed a letter of intent, although the sale is still very much ongoing and no agreement has been reached. The Portugal plant was set up as a joint venture with Texas Instruments, who teamed up with Anam in a joint venture in 1996 (CI No 2,995). But a Samsung spokesperson at the company’s headquarters in Seoul, Korea said the talks are going on. The company wants to get rid of the plant because it believes it is no longer that important to have such an establishment in Europe. There are also rumors circulating that the company has agreed to sell its US Samsung Microwave Semiconductor subsidiary to Watkins-Johnson. Samsung was unavailable for comment as we went to press.
