Sony could decide for the spin-off of the Entertainment division. Archived the proposal of hedge fund manager Daniel Loeb (shareholder with 6% of Sony in his pocket), which had offered 200 billion yen to take over the business branch, the Asian giant could now follow up on a second proposal by Loeb himself, which concerns the separation of the cinema sector and music.
Investors really liked the hypothesis, judging by the boom in purchases of the Sony stock, which yesterday gained 7,4% on the stock market.
In any case, the Japanese multinational has defined the press rumors according to which the company would be ready to accept the proposal as "inaccurate". The Nikkei reported in its Japanese-language edition that Sony's board will consider the proposal made by Loeb-founded hedge fund Third Point, but the initial English translation of the same article spoke instead of already secured backing. .
Sony reiterated that the entertainment business remains an important source of growth and revenue for the entire group.
