Sony considering spin off of PlayStation division

Calls in Morgan Stanley and Citigroup to advise about the potential move

Calls in Morgan Stanley and Citigroup to advise about the potential move

Sony has reportedly called in finance companies Morgan Stanley and Citigroup to investigate selling off its entertainment business.

Business magazine Bloomberg cites statements from "people familiar with the matter". It said that the move would likely involve Sony splitting its entertainment and electronics divisions. That would be followed by the launch of an IPO for its entertainment business.

The news follows earlier reports that Sony was considering splitting its entertainment and electronics divisions.

Some reports have accused Sony of attempting to use the news to boost its share price during the Xbox One reveal event earlier this month.

Gaming sites initially picked up on the increase in Sony's share price during the event as a sign the market had lost confidence in Microsoft's console.

However, later reports linked the leak about the possibility of Sony selling the entertainment division – which includes its PlayStation business – as the reason for the rise in its share price.

At the time, Sony denied that a decision about spinning off entertainment business had been made. Chief executive Kazuo Hirai said that the board would "come to a decision that represents Sony's stance".