Discount sale sees shares fall
Shares in LG Display have fallen more than 5% following Philips Electronics announcement that it sold its remaining 13.2% stake in the South Korean manufacturer at a discount.
Philips sold 47.2million LG Display shares for €630m and expectations that a sizeable portion of the shares could be resold in the market over the coming sessions hit the stock on Thursday.
Philips set up LG Display jointly with South Korea's LG Electronics in 1999 but has steadily cut its stake in the lcd maker since late 2005.
