(Corrects paragraph 3 to say Fujitsu will purchase shares from
the market, not Fuji Electric)
TOKYO Feb 7 Japan's Fujitsu Ltd said
on Tuesday its biggest shareholder would sell most of its stake
in the electronics conglomerate, part of a plan by the two firms
to unwind their cross-shareholdings.
Fuji Electric Co plans to unload 168.9 million
shares. Fujitsu said it wants the stock to be sold to overseas
Fujitsu also said it plans to buy back up to 39 million
shares from the market for as much as 25 billion yen ($225
The terms of the share sale have not been decided.
Based on Fujitsu's closing price on Tuesday, the sale would
be worth about 114 billion yen ($1 billion).
($1 = 111.8600 yen)
(Reporting by Taiga Uranaka and Chris Gallagher; Editing by