Bertelsmann hints at Sony BMG changes
Finance chief says conglom will 'optimize' stake
Rabe, who also heads the conglom's music division, emphasized that Bertelsmann had no plans to sell its holding in Sony BMG. However, without wanting to go into details he hinted: "We simply want to be more flexible in dealing with this holding."
Sony BMG is a joint venture between Bertelsmann and the Sony Corp. Bertelsmann's chief exec Gunter Thielen has been reported as saying that both partners have committed to the joint venture until at least 2009.
Speculation that Bertelsmann was planning to sell off its stake in Sony BMG was triggered by the conglom's decision to buy back the $5.75 billion stake in Bertelsmann held by Groupe Bruxelles Lambert. The purchase prevented a public offering of Bertelsmann shares.
But rather than selling assets, Bertelsmann said it would finance the buyout through a loan from several banks, it said in May.
