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Activist investor Third Point offloads most of Sony holdings

Daniel Loeb's repeated requests to divest went unanswered

Sony`s stock price had risen 39% between the end of 2018 and the end of June 2020.   © Reuters

TOKYO -- A U.S. activist investor that had frequently clashed with Sony over its repeated requests for divestitures of noncore businesses sold most of its holdings in the Japanese technology company in the second quarter, Nikkei learned on Monday.

Third Point, an investment company run by billionaire investor Daniel Loeb, now owns 10,000 or fewer shares of Sony, according to its latest quarterly regulatory filings for the quarter ended June. The company had 670,000 shares, or 0.05% of Sony, at the end of March.

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