Sony climbs 14 percent after U.S. fund proposes listing of entertainment unit

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Shares of Sony Corp ( id="symbol_6758.T_0">6758.T) climbed 14 percent on Wednesday in Tokyo trade after hedge fund investor Daniel Loeb on Tuesday called on the electronics company to list its entertainment unit.

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Sony jumped 14 percent to 2,146 yen and was the third most traded stock on the board by turnover.

 

Loeb said his Third Point hedge fund had accumulated a little more than 6 percent of Sony's shares - a stake worth $1.1 billion - making it the largest stakeholder in the inventor of the Walkman portable music player and Trinitron TV.

(Reporting by Ayai Tomisawa; Editing by Edwina Gibbs and Edmund Klamann)

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