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March 16, 1987

THORN EMI UNLIKELY TO WANT TO SELL ALL OF ITS APPLIANCES AND LIGHTING DIVISION

By CBR Staff Writer

Mr Ivor Owen, chairman of Thorn EMI’s appliances and lighting division, resigned yesterday in a move which (sic) puts a question mark over the future of the group’s hard-pressed refrigeration activities, the Financial Times wrote on Saturday: the paper goes on to suggest that the refrigeration interests are the root of the problem and that Thorn is unlikely to want to sell the entire division: could be the opportunity Amstrad Plc has been looking for – the company acknowledges that it has looked at a lot of domestic appliance businesses as possible acquisition candidates, but has specifically ignored the TI Group businesses that are on the block, because there are several items in there it does not want.

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