Reuters: Technology News: Japan's NEC to sell mobile unit for 70-80 billion yen: sources

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Japan's NEC to sell mobile unit for 70-80 billion yen: sources Mar 26th 2013, 05:56 Tweet Share this Email Print Related News Networking creates devices buzz at mobile fair Wed, Feb 27 2013 Analysis & Opinion Budget day cheer is here again A man looks at NEC Corp's computer displayed at an electronics store in Tokyo October 24, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Tue Mar 26, 2013 1:56am EDT TOKYO (Reuters) - Japan's NEC Corp will sell its mobile services subsidiary NEC Mobiling Ltd for 70 to 80 billion yen ($742 million - $848 million), sources said on Tuesday, as the company sheds non-core assets after two years of losses. Marubeni Corp's telecommunications unit and TD Mobile are vying for the 51 percent stake NEC Corp is putting up for sale, and a buyer may be picked as early as next week, the industry and financial sources told Reuters. The sources declined to be identified because of the confidential nature of the deal. TD Mobile is a joint venture between Toyota Tsusho Corp and Denso Corp. NEC Mobiling runs a chain of mobile phone retailer shops for NTT Docomo Inc. ($1 = 94.3400 Japanese yen) (Reporting by Emi Emoto, Maki Shiraki and Mari Saito; editing by Miral Fahmy) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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