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