Nintendo to sell stake in UK game developer to Microsoft - report
Nintendo Co plans to sell its entire stake in Rare Ltd, a UK game software development company, to Microsoft Corp, the Nihon Keizai Shimbun business daily reported.
The planned sale - for an estimated 20-30 billion yen - will terminate the Japanese company's relationship with Rare, which has failed to come up with a hit product in recent years, it said.
It will also enable Microsoft to use Rare's software - which has a good reputation in Europe - in a bid to boost the popularity of its Xbox home game machine.
As the top shareholder, Nintendo owns a 49% stake in Rare. Negotiations are now under way between Microsoft and Rare over a plan in which the UK firm would buy back Nintendo-held...
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