AAPL Stock: 117.81 ( -0.22 )

Printed from

Dubai group takes massive stake in Sony

updated 12:10 pm EST, Mon November 26, 2007

Dubai group buys into Sony

A Dubai company has bought out a considerable portion of the electronics giant Sony, the Wall Street Journal reports. Dubai International Capital, owned by the emirate's Sheikh Mohammed bin Rashid Al Maktoum, has announced an a an investment it will only describe as "substantial;" the amount is expected to be five percent or less however, as if it paid any more, DIC would have to declare the money for Japanese tax purposes. In total, therefore, the investment could come to as much as 277 billion yen ($2.6 billion).

Companies in Dubai -- a part of the United Arab Emirates -- have been greatly increasing foreign investments in the past several years, as they expect the region's oil supply to dwindle within the next few decades. Local rulers have also concentrated heavily on tourism, building some of the most luxurious hotels and attractions in the world. What impact the buyout may have on Sony is unknown, but the company has already come under increasingly foreign influence, particularly with the hiring of its first non-Japanese CEO, Howard Stringer. [via The Wall Street Journal]

by MacNN Staff




  1. Constable Odo

    Joined: Dec 1969


    I sure wish those

    guys would buy out Motorola. Those Dubai guys really think big and maybe they could buy Motorola cheap and turn it around. Lord knows the idiots running the company at present can't.

  1. tindrum

    Joined: Dec 1969


    For USD2.6 billion

    they can buy me.

Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented