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It is believed that Videocon is holding talks to takeover the Indian operations of a Japanese firm, Sharp. However, Videocon has denied any such move.
Videocon has denied having intentions of taking over the Indian operations of Japanese firm, Sharp India . However, sources say that the company is holding talks and mulling a possible takeover.
"I do not think that we have to phase out any brand, but we have to add further brands," said Group Chairman of Videocon, V N Dhoot. (Also see-- Electrolux to get 5% stake in Videocon ) Dhoot indicated that Videocon's shopping basket might have more space. After Thomson and Electrolux , consumer electronics player, Sharp India, could be the third acquisition target for Videocon. (Also see-- Videocon buys Thomson's tube business ) According to sources, officials at Sharp have approached Videocon for acquiring their operations in India. (Also see-- Thomson to hold 14% in Videocon units ) This comes as a bit of a surprise, as Sharp Corporation acquired Kalyani Group 's 29% stake in the Pune-based joint venture, Kalyani Sharp India. Sharp Corporation raised its stake to 80% in the venture, which clearly showed its heightened interest in the Indian market.
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