(Yicai Global) Oct. 9 -- TCL Group has only tentatively contacted ASM International to acquire its Hong Kong unit, but no deal has been signed, TCL announced yesterday in reply to media reports.

Huizhou, Guangdong province-based electronics titan TCL is mulling buying a 25 percent stake in Hong Kong-headquartered ASM Pacific Technology, the unit of ASM International, a semiconductor production equipment maker with its head office in Almere, the Netherlands, Bloomberg News reported.

Semiconductor displays and smart terminals are two of TCL's core businesses. It is also exploring new commercial areas based on innovation of technology and business models focusing on these main fields and its core competence. New semiconductor display technology and materials, artificial intelligence, big data, smart manufacturing and Industrial Internet are top company growth priorities.

TCL is thus on the lookout to snap up various companies in relevant sectors and seek cooperation with others for expansion. The initial contact with ASM International has thus far yielded no written deal and no information subject to a disclosure obligation has been withheld, per the announcement.

No substantive progress has been forthcoming and great uncertainty exists as to whether and how the proposed transaction may proceed, the announcement concluded.

Editor: Ben Armour