BenQ Mobile, the Munich-based handset company, on Thursday announced it was filing for insolvency after its Taiwanese parent pulled the plug on the lossmaking business it took over from Siemens less than a year ago.
BenQ Corp in Taipei said it had decided not to put any more money into the business because if it had it might have threatened its own survival. Shares of BenQ Corp surged more than 5 per cent to T$19.2 in Taipei by late Friday morning.
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Friday, September 29, 2006
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