PARIS, July 30 French industrial conglomerate
Safran SA (SAF.PA) is to sell its loss-making mobile telephone
unit to investment fund Sofinova, business daily Les Echos
reported on Wednesday.
In an extract from an article to appear in Thursday's
edition, the newspaper said only 310 of the 700 workers at the
group's development centres would be kept on, with the
remaining 400 reassigned to other jobs.
Safran has been seeking a buyer for its mobile handsets
division, Sagem Mobiles, which generated sales of 645 million
euros ($1.01 billion) in 2007. The unit employed 3,318 staff at
the end of March 2008, according to Safran's website.
A spokeswoman for the company said a statement would be
issued on Thursday regarding a solution for the mobile unit but
made no direct comment on the report.
(Reporting by James Mackenzie; editing by Jeffrey Benkoe)