Japan's Marubeni telecom unit to buy NEC Mobiling from NEC - sources

TOKYO, April 23 Mon Apr 22, 2013 10:55pm EDT

TOKYO, April 23 (Reuters) - A telecom unit of Japan's Marubeni Corp is preparing to buy NEC Corp's mobile services subsidiary NEC Mobiling Ltd, sources familiar with the matter told Reuters on Tuesday.

Struggling after two consecutive years of losses, IT services provider and mobile handset maker NEC is shedding non-core assets in order to bolster its profitability.

NEC holds a 51 percent stake in the mobile servicing unit, which runs a chain of mobile phone retail shops for NTT Docomo Inc. (Reporting by Maki Shiraki; Writing by Mari Saito; Editing by Paul Tait)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.