TOKYO, Oct 11 (Reuters) Kyocera Corp has offered about 70 billion yen (7 million) for Sanyo Electric Co's loss-making mobile phone business, the Nikkei business daily reported on Thursday.
The newspaper said Kyocera and Sanyo would likely reach a basic agreement on the deal on Thursday and may make an announcement on the same day.
Sources close to the matter had told Reuters last month that Kyocera was in talks to buy Sanyo's mobile unit in a deal that would create the world's No. 7 cellphone provider.
The Nikkei, which had reported in September that the deal could be worth about 50 billlion yen, said the 70 billion yen offer could be lowered after Kyocera conducted due diligence.
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