wraggster
May 23rd, 2013, 23:43
Executives consider dividing company's entertainment assets for new IPO
Sony is considering a proposal by billionaire Daniel Loeb to spin off its entertainment assets, says Chief Executive Officer Kazuo Hirai.
According to Bloomberg (http://www.businessweek.com/news/2013-05-22/sony-directors-discuss-loeb-s-proposal-for-entertainment-ipo-2), the proposoal would partially divide the company's more valuable portions for the purpose of offering a new, more valuable IPO.
“It’s only a start,” said Sony CEO Kazuo Hirai.
“It’s important that the board will discuss this and come to a decision that represents Sony’s stance.”
This is just a week after the company said the assets weren't for sale.
http://www.develop-online.net/news/44280/Sony-mulls-spin-off-proposal
Sony is considering a proposal by billionaire Daniel Loeb to spin off its entertainment assets, says Chief Executive Officer Kazuo Hirai.
According to Bloomberg (http://www.businessweek.com/news/2013-05-22/sony-directors-discuss-loeb-s-proposal-for-entertainment-ipo-2), the proposoal would partially divide the company's more valuable portions for the purpose of offering a new, more valuable IPO.
“It’s only a start,” said Sony CEO Kazuo Hirai.
“It’s important that the board will discuss this and come to a decision that represents Sony’s stance.”
This is just a week after the company said the assets weren't for sale.
http://www.develop-online.net/news/44280/Sony-mulls-spin-off-proposal