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.
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