TOKYO – Panasonic and smaller electronics rival Sanyo say they are starting talks on a capital and business alliance.

The presidents of the Japanese electronics rivals are holding a news conference later Friday in Osaka about their moves toward an alliance, both sides said.

According to a statement, they said: “Panasonic and Sanyo will start discussions with the aim of maximizing both companies’ corporate values by pursuing synergies between both companies.”

The decision to start the talks came at board meetings Friday, they said.

Speculation has been rife Panasonic Corp. is interested in buying Sanyo Electric Co.

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