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Sony will sell around $2.9 billion worth of shares from its insurance unit, freeing up a huge amount of capital that commentators have asserted could be injected into its game business, possibly precipitating a PS3 price cut.
Sony could use the funds for various options to strengthen its electronics and game businesses,” said Mitsuhiro Osawa, a Tokyo-based analyst at Mizuho Investors Securities. "A cut in the price of the PlayStation 3 is one option."
According to
, the selling off of the 725,000 shares represents Japan’s biggest initial public offering this year.
