General Electric cancels sale of its appliance division to Electrolux
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General Electric announced Monday that it has decided to cancel the agreement to sell its appliance division to the Swedish group Electrolux
� AFP Sebastien Bozon
Stockholm (AFP) - General Electric announced Monday that it has decided to cancel the agreement to sell its appliance division to the Swedish group Electrolux which had offered last year to buy it for $3.3 billion.
The US conglomerate said in a statement that it was still interested in selling the appliance division, while Electrolux, which had wanted the acquisition to make it one of the world leaders in the appliance sector, said it was "disappointed" by the GE decision.