LG denies Siemens mobile buyout rumor

Jan 20 2005 - 11:54 AM ET | LG Mobile Phone, Siemens
A report came out yesterday citing anonymous sources that LG was talking with Siemens about buying Siemens' mobile phone division. Today, LG is denying any such talks with Siemens: bq. "We have never been in such talks with Siemens," a spokesman for LG Electronics said. "We have no interest in acquiring the Siemens handset unit." Siemens had offered to hold talks with LG Electronics about the possible sale but LG turned it down, he said. Siemens is expected to announce its plans for the mobile division at its share holders meeting on January 27th.