TOKYO, Nov 20 (Reuters) – Shares of Japan’s Panasonic Holdings (6752.T) have rallied about 10% since it announced on Friday a plan to sell a stake in its automotive systems business and the unit’s potential listing raised broader restructuring hopes.
The shares surged for a second session on Monday after posting their biggest one-day jump in half a year on the final day of last week on news the company wants to sell a stake in the unit to Apollo Global Management-run funds.
Analysts said Panasonic could be following in the footsteps of another conglomerate, Hitachi (6501.T) which in recent years sold off several businesses to transform into a digitally driven service firm.
Panasonic needs to adjust nimbly as it faces disruption from compe…
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