vB Easy Archive - Kyocera In Talks To Buy Sanyo

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Kyocera In Talks To Buy Sanyo
Today, 11:45 AM source: Reuters

Sanyo is entering the final stages of talks to sell its mobile handset division to Kyocera. Last month Sanyo began discussions to sell off its loss-making handset division as part of a financial restructuring attempt, though it later announced the unit would be profitable by the end of the year. The deal is rumored to be worth 50 billion Yen ($434 million) and will make the new company the 7th largest handset manufacturer. Since talks are still on going it is not known when the two companies will reach an agreement.