Europe’s largest chipmaker STMicroelectronics (STM.PA) reiterated on Wednesday merger and acquisition deals were not a priority at the moment as its focus remains on organic growth and restructuring of its digital products unit.

Speaking at the Morgan Stanley TMT conference in Barcelona, Chief Executive Carlo Bozotti said he could not rule out that M&A would become important for STM in future “but at the moment it is not on the table”.

(Reporting by Eric Auchard, writing by Harro ten Wolde; Editing by Karolin Schaps)

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