STMicro (STM) signs $500 million supply deal with China's Huawei

July 2, 2015 7:55 AM EDT
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TOULOUSE, France (Reuters) - French microchip maker STMicro (NYSE: STM) signed a $500 million with China's Huawei on Thursday to bolster its supply relationship with the Chinese telecom equipment provider, the French government said in a statement.

The five-year deal, signed during a visit to France by Chinese Prime Minister Li Keqiang, is expected to lead to an increase in orders for the semiconductor manufacturer, the statement said.

(Reporting by Julien Ponthus; editing by Jason Neely)

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