TOKYO: Sony’s board is likely to reject a US hedge fund’s proposal to spin off part of its profitable entertainment arm, a report said, as the electronics giant prepares to report its quarterly results.
Japan’s leading Nikkei business daily said the firm’s directors discussed the idea Wednesday and were leaning towards turning the proposal down after reviewing a financial adviser report on the deal. Some directors argued that Sony can compete better as a whole firm instead of hiving off part of the entertainment division. – AFP
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