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Sony rejects Third Point's proposal to spin off entertainment unit
August 5, 2013 / 11:24 PM / 4 years ago

Sony rejects Third Point's proposal to spin off entertainment unit

TOKYO, Aug 6 (Reuters) - Sony Corp rejected on Tuesday U.S. hedge fund Third Point’s proposal to spin off its part of its entertainment business.

“Sony’s board of directors has unanimously concluded that continuing to own 100 percent of our entertainment business is the best path forward and is integral to Sony’s strategy,” the company said in a letter to Third Point.

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