Tokyo, Apr 28, 2008 (Jiji Press) - Matsushita Electric Industrial Co. <6752> and Sanyo Electric Co. <6764> on Monday denied a newspaper report that they are considering a capital and business tie-up.
The major daily Yomiuri Shimbun reported in its Monday morning edition that such a tip-up is being considered as a way to promote Sanyo's turnaround, with their business integration in future eyed as one option.
In their respective statements, the two said that they have never discussed such a move.
Following the announcement, the Tokyo Stock Exchange and the Osaka Securities Exchange said they will resume trading in shares of Matsushita and Sanyo at 9:41 a.m. Monday (0:41 a.m. GMT).
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