Panasonic shares fall over 5 pct on Sanyo deal

TOKYO, July 29 (Reuters) - Shares in Panasonic Corp fell more than 5 percent on Thursday after sources said the electronics maker plans to acquire the shares it does not already own in Sanyo Electric Co and Panasonic Electric Works Co Ltd.

The deal, which could be worth more than $10 billion, is aimed at strengthening the Japanese electronics maker's grip on two subsidiaries key to its strategy of shifting focus to energy and environment-related businesses.

(Reporting by Sachi Izumi)

(([e-mail]; [phone]; Reuters Messaging: [e-mail])) Keywords: SANYO/PANASONIC SHARES (If you have a query or comment on this story, send an email to [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.