JP Morgan to inject up to €158m into Technicolor

The Technicolor board will recommend the two-part capital injection to shareholders at a meeting in June.

The capital increase will allow the firm to reduce its debt, currently reported as reaching €1.7bn.

JP Morgan challenges a rival bid from US turnaround investor Vector, offering a total outlay of up to €186m for a stake of around 30%, according to reports.

The Vector bid will return to the table should the board reject that of JP Morgan.

Technicolor makes television equipment and film production software. The firm is currently planning to close its last remaining plant in France, which manufactures digital set-top boxes.

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• France
• France
• JP Morgan
• Vector Capital