Apple supplier AMS shares soar after media report it could sell Osram’s auto unit



by   |  VIEW 3598

Apple supplier AMS shares soar after media report it could sell Osram’s auto unit

The Swiss Stock Exchange-listed shares’ prices of AMS AG, the Premstätten-based Austrian sensor manufacturer much-known for its facial recognition toolkit for Apple Inc., surged as much as 7.75 per cent in Tuesday’s pre-market trading followed by reveal of a media repot that the Austrian sensor specialist would be selling Osram’s auto division following the takeover of the German lighting company.

Aside from that, Bloomberg reported late on Monday that the AMS AG or Austria microsystems AG, was looking to conclude its Osram takeover within weeks, while it was also working out on moving Osram’s auto unit into a holding structure, while the Bloomberg report had also quoted a worker’s representative alongside an internal presentation as saying that the move would suggest a likely sell-off of the division.

AMS discards media speculation on a potential sale of Osram’s auto unit

Meanwhile, as a source closer to AMS was quoted saying on Tuesday that a potential divestment of Osram’s auto unit had yet to be decided and another source said that a decision to sell-off Osram’s auto unit could compound the complexion of the takeover deal, whacking away media speculations over a potential sale of Osram’s auto unit which in effect would have widened the Austrian sensor maker’s relationship with the global automotive industry, AMS said in a written statement on Tuesday, “We can neither relate to the current conclusions found in media speculation nor do we see a basis for this.

” Nonetheless, followed by the release of AMS AG statement, the Swiss stock exchange-listed stocks of AMS AG, had pared some of its earlier gains and winded down the day 2.94 per cent higher to 16.95 Swiss Franc a share.

However, AMS AG stocks had eased off nearly all of its gains made following the reveal of the media headline and had shredded off another 3 per cent in post-market trading on Tuesday to 16.45 Swiss Franc a share. If truth is to be told, Osram’s auto unit has been a key interest for the Austrian sensor maker’s takeover of the German lighting company, as Osram has long been an industry leader in the car headlight industry.