TCL Technology's (SHE:000100) unit, TCL China Star Optoelectronics Technology, was named as the preferred bidder for LG Display's (KRX:034220) factories in China, according to the company's disclosure on the Shenzhen Stock Exchange.
The bid includes 70% of LG Display (China) and 100% of LG Display (Guangzhou).
The Chinese electronics manufacturer will conduct exclusive negotiations with the seller and agree on a transaction deal, the Aug. 1 disclosure noted.
TCL Technology's shares slipped more than 3% and LG Display's shares dropped more than 9% in recent trade.
Price (RMB): ¥3.72, Change: ¥-0.13, Percent Change: -3.38%
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