Sofinova to buy loss-making mobile telephone unit of Safron (Paris)Safron (French industrial conglomerate) is to sell its loss-making mobile telephone unit to investment fund Sofinova, according to media report. Out of 700 workers at the group development centres only 300 would be kept on. Remaining 400 will be reassigned t other jobs.
Safron is looking for a buyer for its mobile handsets division, Sagem Mobiles, which generated sales of $1.01 billion in 2007. The unit employed 3,318 staff at the end of March 2008, according to Safran’s website.
