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Panasonic unloads entire Tesla stake

Exclusive: Japanese electronics company says relationship "will not change"

Panasonic generated hefty proceeds from the sale of its Tesla holdings.    © Reuters

OSAKA -- Panasonic sold its entire stake in key battery customer Tesla -- a holding worth around 400 billion yen ($3.6 billion) -- last fiscal year, Nikkei learned Friday.

The move gives the Japanese company billions of dollars to fund new strategic investments, such as the $7.1 billion purchase of U.S. software company Blue Yonder.

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