ISTANBUL: Turkey’s electronics manufacturer Vestel said Monday it is in talks to buy the television unit of Japan’s Toshiba but declined to predict at this point whether a deal will actually be reached.
“At this stage, it remains unclear if talks will be finalised,” the Turkish company said in a statement to the Istanbul stock exchange.
Vestel already has a licensing deal with Toshiba to produce televisions in Europe under the Japanese company’s brand.
Vestel accounts for 90 percent of the total TV exports and 30 percent of the white goods exports in Turkey, according to its website.
The company exports its products to 149 countries under the leading Japanese and European brands.