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UPDATE 1-Sony: no plans to buy out Ericsson stake in venture

Thu Jul 9, 2009 4:18pm EDT

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SUN VALLEY, Idaho, July 9 (Reuters) - Sony Corp (6758.T) has no plans to buy out Ericsson's (ERICb.ST) stake in their loss-making mobile joint venture Sony Ericsson, said Sony Chief Executive Howard Stringer on Thursday.

Analysts have said that Sweden's Ericsson would like to abandon the joint venture and leave it in the hands of the Japanese electronics company. Sony Ericsson has said it had no indication that either partner was considering pulling out.

"We have no plans at the moment. We want to make this partnership work," Stringer said on the sidelines of the Sun Valley media and technology conference organized by Allen & Co. (Reporting by Yinka Adegoke, writing by Tiffany Wu; Editing by Tim Dobbyn)



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