Sanyo Electric to sell mobile phone ops to Kyocera

TOKYO Oct 11 (Reuters) - Japan's Sanyo Electric Co Ltd 6764.T said on Thursday that it has reached a basic agreement to sell its loss-making mobile phone business to Kyocera Corp (6971.T).

The selling price has yet to be set, a Sanyo spokesman said.

Sources close to the matter had told Reuters last month that Kyocera was in talks to buy Sanyo's mobile unit in a deal that would create the world's No. 7 cellphone provider.