June 6, 2012 / 12:40 AM / 8 years ago

Olympus shares rise on report Panasonic to take stake

TOKYO (Reuters) - Shares of Olympus Corp rose 3.3 percent to 1,374 yen on Wednesday after Kyodo news agency said Panasonic Corp is making final arrangements to provide up to 50 billion yen ($635 million) in capital to the scandal-hit firm.

The move will make Panasonic the top shareholder in Olympus, which has been hit by a massive accounting scandal.

Panasonic shares were up 0.6 percent, in line with the benchmark Nikkei share average.

Reporting by Dominic Lau; Editing by Chris Gallagher

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