Philips says it wants to sell substantial part of its TSMC shares

May 11, 2005 – Dutch electronics giant Philips has announced it is considering the sale of a “substantial part” of up to 1.05 billion common shares in Taiwan Semiconductor Manufacturing Company (TSMC), a leading foundry for custom-made chips.

Currently, Philips holds approximately 4.4 billion TSMC shares, representing a stake of about 19%

“While we’ll remain among the largest shareholders in TSMC for the foreseeable future, we believe that in the long-term our shareholders would benefit most from a gradual and orderly reduction in this holding,” Philips CFO Jan Hommen said in a press release.


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