The Chinese and the French companies are set to combine their TV and DVD-player manufacturing activities and create a joint venture company to be called TCL-Thomson, London’s Financial Times newspaper said.

TCL will own 67% of the venture, which is expected to employ 20,000 people and ship some 18 million units a year.
  
The deal, which has been rumoured for several weeks, will boost TCL’s technical expertise and increase its brand recognition. Thomson will benefit from lower manufacturing costs, the paper said.
  
TCL was not immediately available for comment.