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EU Approves Sony Buyout of Sony Ericsson

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Jan 27, 2012, 4:09 PM   by Eric M. Zeman

The European Commission has approved Sony's intent to buy Ericsson's portion of the two companies' cell phone joint venture. Sony first announced in October that it planned to buy Ericsson out for $1.39 billion. EU regulatory approval was necessary for the deal to move forward. Sony said the first "Sony" branded Xperia smartphone will be released soon.

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