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Benq Siemens  The bankrupt German handset business of Taiwan's BenQ Corp. will be split up and sold, its insolvency administrator said Saturday.

"There is no longer a realistic chance of it being sold as a whole," spokesman Martin Prager said, confirming a report in Germany's Sueddeutsche Zeitung.

Munich-based BenQ Mobile filed for insolvency protection in September, a year after the Taiwanese firm took over the struggling unit from Siemens AG and began an unsuccessful bid to turn it around.

Update:

Small assets of the former Siemens business that proved unable to stand up to competition from far bigger rivals are set to be sold through online auction house eBay and the insolvency administrator's Website (www.pluta.net).

The latter already has an array of office equipment including computers, furniture and even plants on offer, with prices starting at 1 euro ($1.32).

 

Prager would not comment on the newspaper's report that splitting up the firm would mean that almost all of the 3,000 jobs at the firm would be lost for good. Some 550 workers have already found new jobs, some of them with Siemens.

The remaining employees are to continue receiving most of their previous wages for up to a year under a transitional arrangement largely financed by Siemens.

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