It's official: Sony Ericsson has announced that JV partner Sony will acquire Ericsson's 50% stake in Sony Ericsson Mobile Communications AB ("Sony Ericsson"), in a cash deal of EUR 1.05 billion, making the mobile handset business a wholly-owned subsidiary of Sony. The transaction, which has been approved by appropriate decision-making bodies of both companies, is expected to close in January 2012, subject to customary closing conditions, including regulatory approvals. After completion of the transaction, Ericsson will have no outstanding guarantees relating to Sony Ericsson and will no longer account for Sony Ericsson as an investment on balance sheet. - Expanding Sony's product portfolio: Following the transaction, Sony will integrate the mobile phone business with its consumer electronics business for its growth, according to a statement made by the company. Sony aims at a more seamless integration of smart phones with its…
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