TOKYO (Reuters) - Sony Corp and Sharp Corp , the world's second- and third-largest liquid crystal display TV makers, said they would set up a joint venture to make and sell large LCD panels.


Sharp plans to turn its new 380 billion yen ($3.52 billion) LCD plant, which is being built in western Japan, into a joint venture with Sony.

Sharp plans to hold a 66 percent stake in the venture, with Sony taking the remainder.

The two companies will be holding a joint news conference at 7:00 p.m. (0500 EST).

(Reporting by Kiyoshi Takenaka)
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