FRANKFURT (AFX) - Siemens AG will honour outstanding payments it has to make to BenQ Corp for the Taiwanese group's takeover of its mobile phone division last year, Siemens CFO Joe Kaeser said.
Siemens transferred its mobile phone division to BenQ a year ago, and agreed to pay BenQ a triple-digit million euro amount as part of the takeover deal.
On Friday, BenQ Mobile filed for insolvency in Germany.
Kaeser told DPA news agency the German conglomerate still has to make two payments to BenQ worth around 150 mln eur as part of the year-old deal.
He said that despite BenQ Mobile filing for insolvency in Germany, Siemens will 'stick to this agreement'.
However, Kaeser said Siemens will examine whether it has to transfer this money to the BenQ headquarters in Taiwan or to the now insolvent German unit.
Kaeser also said Siemens will seek to support workers affected by the shut-down of BenQ's German mobile operations.
'We are really shocked by the events and want to concentrate on how we can support the German BenQ Mobile employees,' he said.
If possible, former BenQ Mobile employees should be considered as preferred candidates for Siemens vacancies, he added.
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