Sony sells half of its Olympus stake

Sony is selling half its stake in Olympus to investment bank JP Morgan to free up cash for 'strategic investments,' the company has announced. Sony bought a 10% stake in the medical and camera company in 2012, primarily to gain access to the global medical market to which it hoped to apply its sensor, 3D and display technologies. At the time Olympus's future was in doubt, following revelations that it had misstated its accounts having been secretly redirecting money to pay off long-standing debts that has been hidden from investors. Read more