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International International: Sony in talks with Fujitsu for Net biz

International: Sony in talks with Fujitsu for Net biz

Author | NULL | Monday, Jan 01,1900 10:16 AM

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International: Sony in talks with Fujitsu for Net biz

Sony Corp is in talks with computer giant Fujitsu Ltd to acquire Nifty Corp, Japan’s largest Internet service provider, for about 100 billion yen ($762.7 million).

By acquiring the company, Sony aims to become the biggest Internet service provider in Japan by buying Nifty, while Fujitsu hopes to improve its financial standing through the deal and focus its management resources on its mainstay systems business.

Fujitsu forecasts a group net loss of 310 billion yen for March 2002.

The report of talks sent Sony’s shares up 2.92 per cent to 5,990 yen by the close. Shares in Fujitsu were unchanged at 954 yen, while the main Nikkei average ended up 0.81 per cent.

Tags: e4m

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