(Reuters) - The stake sale adds to Philips' cash pile -- it ended the first quarter with 5.9 billion euros in cash -- and the company has said it is looking at acquisitions as well as returning cash to shareholders.
Philips Electronics said on Friday it will book a non-taxable gain of about 1.22 billion euros in its second-quarter results from the sale of shares, which represent a 4.6 percent stake in TSMC, based on Reuters calculations.
Read more at Reuters.com Business News
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