Matsushita mulls sale of internet unit to IIJ

Matsushita Electric Industrial is said to be close to finalising a deal with Internet Initiative Japan (IIJ) concerning the sale of the former’s hi-ho internet access unit to IIJ, sources say. A deal could be finalised next week. Matsushita is said to be looking to concentrate on the production of consumer electronics equipment, and IIJ will take control of hi-ho and merge it with its own operations. The company launched the internet connection services in 1995, but has failed to secure critical mass in a market dominated by NTT and several other rival firms.