BenQ Mobile thrown a lifeline

5 Jan 2007

Bankrupt German mobile handset maker BenQ Mobile, owned by Taiwan’s BenQ Corp, was thrown a lifeline yesterday when a group of strategic investors were linked with a bid for the firm. In a statement, a lawyer representing the unnamed consortium – thought to have connections to the US telecoms and IT sector – said it had submitted a formal offer for the business on 2 January containing ‘concrete ideas about price and detailed information on points, which the investor consortium considers should be settled in a very short time, to secure an assured takeover within the framework of a business concept presented in the offer’. However, the insolvency administrator Martin Prager has since denied receiving any approach from the law firm saying rather: ‘We have a statement of interest but no offer . . . This could be the basis for negotiations but it is not a result of negotiations.’