Technicolor has promptly canned its M&A plans while also slashing its full year 2018 EBITDA outlook by some €20 million, making a surprise U-turn to persevere with its struggling Connected Home division. Surely the business is beyond recovery – and if Technicolor can’t even find a private equity firm to take on the assets then the business is in serious trouble. Back in November, the company said it was investigating a sale of its Connected Home division, prompting Faultline Online Reporter to suggest it should exit hardware altogether and focus on its growing VFX business. We think this outcome remains on the cards, despite Technicolor standing firm. It’s likely there was a lack of lucrative offers as a result of…