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Electronics Production | April 30, 2008

Arima denies report of bid from Elcoteq

Arima has denied bid talks with Elcoteq, after rumours spread that the Finnish EMS-provider was finalising the acquisition, reports Reuters.
Elcoteq declined to make any comment. The report from Digitimes claimed – citing unnamed sources – that the final terms of the acquisition agreement were being discussed.

Reuters reports that Arima spokesman Stephen Hung has denied any rumours, saying there were no talks going on between Arima and Elcoteq.

Helsinki-based analysts said the move would make sense for Elcoteq, but could turn out to be too expensive for the company. "Strategically, if one wants to be in ODM business, this would be the right step," said Pohjola Bank analyst Hannu Rauhala in the Reuters report.
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