Panasonic in Talks to Buy ZKW for Up To $1 Billion: Nikkei

By Reuters
December 05,2016
  • Google
  • reddit
  • Mail
Visitors look at Panasonic Corp's luxury brand home appliances called J concept at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2015 in Makuhari, Japan, October 6, 2015. REUTERS/Yuya Shino/File Photo

VIENNA (Reuters) - Austrian automotive light maker ZKW Group said on Monday it was not in talks with Japan's Panasonic <6752.T> about a possible takeover.

"ZKW is not conducting sales negotiations with Panasonic or other potential suitors," a spokeswoman said.

A ZKW takeover was among various deals the Japanese company was considering to accelerate its push into the automotive electronics markets, a person familiar with the matter told Reuters earlier.

(Reporting by Kirsti Knolle, editing by Louise Heavens)