Dubai Buys Even More, This Time It's Sony

By Tim Beringer 2007-11-26 18:39:08 discussion comments
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Good news for Playstation fans. Dubai, you know that little company… errr… I mean emirate that owns a little bit of everyone, purchased an undisclosed amount of shares in Sony after their announcement on the 19th that they were interested in buying stock in a Japanese company. The dollar amount is rumored to be in the neighborhood of $500 million in shares purchased through the nation’s corporate face, Dubai Corporate International.

According to the Bloomberg report, both parties couldn’t be happier. The $500 million dollar purchase secures DCI one percent of Sony’s shares. It might not sound like much, but one percent of a company the size of Sony is a nice piece of share considering that Sony’s biggest investor holds 17.6 percent with the second holding 4.8 percent. Sony has already seen the benefits today when their shares jumped in price after the purchase.

There is no word yet on what kind of an impact these new investors will have on the electronics company besides the purchase of a forklift for all the money both sides stand to make.
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