Money Control – Billionaire hedge fund manager Daniel Loeb says Sony Corp reminds him of Yahoo Inc before he waged a bitter proxy fight that triggered a boardroom shake-out at the Internet company last year.
Loeb’s Third Point hedge fund has built up a USD 1.1 billion stake in Sony, making it the Japanese group’s biggest shareholder, and Loeb said on Tuesday he was pushing Sony to sell up to a fifth of its profitable music and movie business in a move he says would help turn around its struggling electronics business.
