Toyota says to sell $1.8 billion worth of KDDI shares

TOKYO (Reuters) -Toyota Motor Corp said on Friday it has decided to sell around a 250 billion yen ($1.80 billion) stake in KDDI (OTC:) Corp.

The world’s largest automaker by sales said the Japanese telecom company will buy back shares at 3,900 yen a piece, the company said in a statement.

Toyota’s stakes in KDDI will fall to 11.71% from 14.68%.

($1 = 139.0500 yen)