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Cultura

Samsung says to buy Sony stake in LCD JV for $939 million


    SEOUL (Reuters) - Samsung Electronics said on Monday that its board had approved a plan to buy Sony's entire stake in their joint liquid crystal display (LCD) venture for 1.08 trillion won ($938.97 million).

    Samsung and SONY (JP6758.TK)plan to sign an agreement on the deal on Monday, Samsung said in a regulatory filing.

    Sony holds a nearly 50 percent stake in LCD joint venture S-LCD, which was established in April 2004 to secure stable supplies of the component. ($1 = 1150.2000 Korean won)

    (Reporting by Hyunjoo Jin; Editing by Jonathan Hopfner)