UTStarcom Joins Bidding for Audiovox Communications
May 3, 2004, 11:24 AM by (staff)
UTStarcom has started a bidding battle with Curitel over the cell-phone division of Audiovox, according to people familiar with the talks. Analysts estimate that Audiovox Communications could fetch as much as $200 million. Curitel already manufactures a majority of the phones sold by Audiovox. UTStarcom, a California company that has focused on portable local phone systems for China in the past, has been looking to expand into other markets. An Audiovox deal would give UTStarcom an immediate entry into the CDMA cell-phone market.