Samsung Elec held talks with GE for appliances business: Yonhap

Growth problem: Samsung has little to differentiate itself from other Android phone makers selling similar devices at lower prices. — Reuters

SEOUL: Tech giant Samsung Electronics Co Ltd held talks with General Electric Co about buying the US company's appliances businesses but negotiations broke down on antitrust issues, South Korea's Yonhap News agency reported. 

The report said Samsung initiated the talks after General Electric (GE) walked away from a deal with Electrolux AB due to opposition from US antitrust regulators. 

Without citing its sources, Yonhap said GE ended talks with Samsung after US regulators expressed concerns about antitrust issues. The South Korean firm is a major player in the US appliances market. 

China's Haier Group said it would buy the GE business for US$5.4bil (RM23.78bil). 

A Samsung spokeswoman declined to comment, while GE could not be immediately reached for comment. — Reuters