TOKYO, July 12 Japan's largest consumer
electronics retailer Yamada Denki will buy smaller
rival Best Denki for more than 10 billion yen ($126
million) by acquiring new shares in Best Denki, the Nikkei
business daily reported on Thursday.
Through the acquisition, Yamada will secure sales of more
than 2 trillion yen annually, the paper said. It did not cite
Yamada, which already owns a 7.5 percent stake in Best
Denki, will boost its stake to more than 50 percent, the Nikkei
said. Best Denki will remain listed, the paper said.
($1 = 79.6600 Japanese yen)
(Reporting by Junko Fujita; Editing by Chang-Ran Kim)