Matsushita sells Universal stake for $1.15 Billion

[SOURCE: Financial Times, AUTHOR: David Turner]
Matsushita Electric, the world’s biggest consumer electronics maker, has sold its stake in Universal Studios to Vivendi Universal for $1.15 billion, giving the French telecoms and media group full ownership of the company. The Japanese company on Thursday justified the sale by saying it was “no longer strategically important to maintain capital ties with any particular business partner” because online distribution of video content and development of other distribution methods made it necessary to work with multiple content providers.
http://news.ft.com/cms/s/0c9c74be-93d2-11da-82ea-0000779e2340.html
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