From CNBC: U.S.-based hedge fund Third Point on Tuesday said it has
lifted its stake in Sony and urged the Japanese electronics giant to spin-off
its entertainment business.
Sony appears to be regaining its competitive edge and as a
sign of its increased confidence in the company, Third Point has raised its
stake to 70 million shares valued at 136.5 billion yen ($1.4 billion), the
hedge fund's CEO Daniel Loeb said in a letter that was seen by CNBC.The
billionaire investor reiterated his call to spin-off Sony's entertainment
division and offer to sit on Sony's Board of Directors….
Read all about it at http://www.cnbc.com/id/100822623
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