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NEC Mobiling hits record high; sources say NEC to sell subsidiary
March 26, 2013 / 6:01 AM / 4 years ago

NEC Mobiling hits record high; sources say NEC to sell subsidiary

TOKYO, March 26 (Reuters) - Shares of NEC Mobiling Ltd jumped 14.6 percent to 5,510 yen to a record high on Tuesday after sources said its parent NEC Corp is planning to sell a 51 percent stake.

NEC shares climbed 5.4 percent to 256 yen.

NEC Corp expects to sell the NEC Mobiling stake for 70 to 80 billion yen ($742 million - $848 million), financial and industry sources told Reuters, adding that Marubeni Corp’s telecommunications unit and TD Mobile are among the prospective buyers. (Reporting by Dominic Lau; editing by Miral Fahmy)

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