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October 20, 1995

PHILIPS FINALLY ADMITS THAT IT IS GOING TO RAISE BSO/ORIGIN STAKE

By CBR Staff Writer

Having said in July that it had no immediate plans to increase its stake in its 41%-owned affiliate BSO/Beheer NV, Philips Electronics NV finally confirmed yesterday that there had been truth in all the rumours, and that its its Communications & Processing Services unit would merge with BSO at the beginning of 1996. Philips will have a majority stake in the new company, which will be renamed Origin. The combined operation will have 10,000 employees and annual turnover equivalent to some $1,250m.

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