THE HAGUE?Dutch electronics giant Philips said Tuesday it had finalised the sale of 200 million shares in Hong Kong-based flat screen producer TPV Technology for a net $130 million (95 million euros).

Philips said it sold the shares to Chinese household appliance maker CEIEC.

"As a result of this transaction, which is in line with Philips? communicated strategy to dispose of its remaining non-core shareholdings, Philips now holds 63 million shares in TPV, which represents a stake in the company of just below three percent," it said.

"Philips also holds options on shares of TPV through a convertible bond issued to Philips in September 2005, with a face value of $211 million, representing a potential ownership of approximately 310 million new TPV shares."