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Technicolor responds to sale rumours

Company releases statement on "press reports and market rumours"

Technicolor has responded to reports that it is exploring options that include a full or partial sale of the French digital media company, as its set-top box business struggles because of higher prices for memory chips.

In a statement, Technicolor said it regularly reviews and evaluates strategic alternatives for its assets, whether acquisitions, combinations or divestments, in the best interest of its stakeholders. 

“This may involve discussions with industry players and/or financial investors. This is an ongoing process in keeping with management’s mission to deliver value for shareholders,” said the statement.

“In this regard, Technicolor stresses that any discussions are at a preliminary stage. No strategic decision or commitment has been made,” it continued.

The statement follows a report by Reuters, that said Technicolor has been exploring a sale of its set-top box division, which it calls connected home. The report also suggested Technicolor had been in discussions with other companies and private equity firms about a sale of the company or a merger with a peer.