Pain Worsens At ST
January 31, 2013
Struggling STMicroelectronics took a $544m charge against its Q4 earnings resulting in a Q4 loss of $428m.
The charge relates to the intended divestment in Q3 of its 50% share in wireless jv ST-Ericsson.
ST-Ericsson says that its parents STMicroelectronics and Ericsson have cancelled the $1.5bn debt owed to them by ST-E.
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