Panasonic and Sanyo to merge

Panasonic is to buy its smaller rival Sanyo to create Japan’s biggest electronics maker. The estimated price is 6.9 billion euros. One reason Panasonic wants Sanyo is because of its leading position in rechargeable batteries. They are widely used in mobile phones, personal computers, MP3 music players and increasingly to power cars. With the electronics industry hit by slowing consumer demand more consolidation is likely.

Copyright © 2009 euronews

tags: Corporate