A PYMNTS Company

US/ South Korea: Samsung eyes GE appliances business

By  |  January 18, 2016

Tech giant Samsung Electronics held talks with General Electric Co about buying the US Company’s appliances businesses but negotiations broke down on antitrust issues, South Korea’s Yonhap News agency reported on Saturday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The report said Samsung initiated the talks after General Electric walked away from a deal with Electrolux AB due to opposition from US antitrust regulators.

    Without citing its sources, Yonhap said GE ended talks with Samsung after U.S. regulators expressed concerns about antitrust issues. The South Korean firm is a major player in the US appliances market.

    China’s Haier Group said it would buy the GE business for $5.4 billion.

    Full content: The Star

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.