TCL Electronics: Intends to establish a joint venture company to takeover Sony's home entertainment business.

Sina Finance reported on March 31st that TCL Electronics announced that its indirect wholly-owned subsidiary TTE Corporation has entered into a transaction framework agreement with Sony to establish a joint venture to take over the home entertainment business and acquire all of Sony's SOEM shares. The transaction price is 75.399 billion yen, approximately equivalent to about 3.781 billion Hong Kong dollars.