TCL Corporation (SZSE:000100) is interested in acquiring Shenzhen Textile (Holdings) Co., Ltd. (SZSE:000045). According to Xinhua's report, TCL is planning to buy 26% - 29% stake in Shenzhen Textile. A statement released by Shenzhen Textile stated that TCL is the only firm that has applied to buy the said shares as well as paid the complete guarantee fee.

Xinhua report cited TCL as saying that it has decided to purchase the stake as Shenzhen Textile has acquired valuable operation experience, technological know-how and developed a brand name in the polarizer industry. It further added that TCL and Shenzhen Textile need to hold more negotiations prior to arriving at an agreement. Besides, the two firms also need approval from Chinese authorities' approval before the deal.