Sony to sell subsidiary M3 shares, post $1.23 billion operating profit

TOKYO | Wed Feb 20, 2013 8:26am GMT

TOKYO (Reuters) - Sony Corp said on Wednesday that it would sell six percent of shares in its consolidated subsidiary M3 Inc, and as a result post a 115 billion yen (797.56 million pounds) operating profit for the year through March 2013.

Sony said in statement that the sale of shares in M3, a marketing company, was part of a rebalancing of its business portfolio and assets.

(Reporting by Shinichi Saoshiro; Editing by Ron Popeski)

Source: http://uk.reuters.com/article/2013/02/20/uk-sony-m3-shares-idUKBRE91J0AL20130220?feedType=RSS&feedName=internetNews

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