Hedge fund Third Point calls on Sony to spin off businesses

Daniel Loeb, Third Point 

Steve Marcus | Reuters

Daniel Loeb’s activist hedge fund Third Point called on Sony on Thursday to spin off its entertainment and semiconductors businesses into separate companies, the second time in six years it has targeted the Japanese electronics maker.

Sony should also consider selling its stakes in Sony Financial Holdings, M3, Olympus and Spotify Technology, Third Point said in a public letter to investors.

Sony did not immediately respond to a request for comment.

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