Panasonic Shares Gain on MOU to Sell Stake in Auto-Parts Unit

By Ronnie Harui

Panasonic Holdings’ shares rose sharply on Monday, for a second straight session, after it signed a memorandum of understanding to sell a stake in its automotive components subsidiary to an affiliate of Apollo Global Management.

Shares were up 5.3% at 1,576.5 yen ($10.54) in morning trade after earlier touching Y1,606.50, its…