TCL's French connection

First televisions, now handsets. TCL forges another French M&A alliance.

Putting a whole new spin on the term 'technology leap-frog', TCL has entered into a second MA transaction that sees it gain control of a French asset. Fresh from its success with TV manufacturer, Thomson, TCL has now entered into a strategic MA alliance with Alcatel.

The Chinese consumer electronics manufacturer will pay $65 million for a 55% stake in a new JV, which will see it absorb Alcatel's mobile phone unit. Alcatel had spent the last six months in talks with Chinese consumer electronics companies to do a deal, and was introduced to TCL by ABN AMRO, its advisor.

This is part of a trend, says...

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