Japan's Bic Camera to up stake in rival Best Denki

TOKYO Aug 8 (Reuters) - Japanese electronics retailer Bic Camera Inc (3048.T) said on Friday it will spend 3.1 billion yen ($28.3 million) to raise its stake in smaller rival Best Denki Co Ltd (8175.T) to 14.9 percent from 9.3 to boost their business ties.

The two firms formed a capital and business alliance last year amid speculation of a takeover of Best Denki by Japan's largest electronics retailer Yamada Denki, (9831.T) which has an 8.2 percent stake in Best Denki. ($1=109.62 Yen) (Reporting by Taiga Uranaka)