STMicro CEO says no plans to buy out Ericsson from JV

BARCELONA Fri Nov 16, 2012 6:24am EST

BARCELONA Nov 16 (Reuters) - STMicroelectronics has no plans to buy out joint venture partner Ericsson from their struggling wireless chipmaker ST-Ericsson.

When asked if buying out Ericsson was under consideration, President and Chief Executive Carlo Bozotti said "No, no plans" on the sidelines of an investor conference in Barcelona.

Bozotti also said STMicroelectronics would return to growth from the second quarter next year, as this quarter and next continued the flat trend seen since the middle of 2012.

"What we plan is stability over the fourth quarter (...) and then back to some growth over Q2 and a stronger second part of the year," he said at the Morgan Stanley Technology Media and Telecoms conference on Friday.

Bozotti also repeated there were no plans to split STMicro.

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