STMicro denies to "compromise unity" of group
PARIS, Oct 12 (Reuters) - Europe's top semiconductor maker STMicroelectronics on Friday responded to a report that it was mulling a corporate breakup by denying that it had any plans to undo the group's "unity".
"Following today's media speculations, STMicroelectronics denies the existence of initiatives which can compromise the unity of the company," STMicro said in a brief statement.
STMicro shares pared their gains after the statement and were up 5.9 percent at 1302 GMT in Paris.
Bloomberg reported earlier that STMicro was considering a breakup that could lead to the sale of its struggling mobile-phone chip business, sending the stock up as much as 19 percent.
(Reporting by James Regan; Editing by Christian Plumb)
Keywords: STMELECTRONICS BREAKUP/STATEMENT