Sony nears buying out Ericsson from venture: report

Reuters News
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Posted: Oct 06, 2011 12:54 PM

(Reuters) - Sony Corp is nearing a deal to buy out Telefon AB LM Erisson's stake in their wireless phone joint venture, the Wall Street Journal reported on Thursday citing people familiar with the matter.

The joint venture's two parent companies have regularly discussed the nature of the Sony Ericsson's ownership structure, according to the report. It said the talks were ongoing and could break apart at anytime.

Ericssion declined to comment, Sony Corp was not immediately available for comment.

(Reporting by Yinka Adegoke)