Nomura Real Estate says stake sale to Japan Post scrapped

Japan Post scraps plan to buy Nomura Real Estate
A man walks next to a sign for Nomura Securities in Tokyo July 25, 2013. REUTERS/Yuya Shino

Nomura Real Estate Holdings Inc said on Monday it was no longer considering a plan for Japan Post Holdings to buy a stake in it, confirming reports over the weekend.

Japan Post also confirmed in a separate statement that it was not considering purchasing the real estate company.

Shares in Nomura Real Estate were untraded amid heavy sell orders on Monday.

The Nikkei business daily and other media reported at the weekend that Japan Post would likely scrap the talks as the two companies had struggled to agree on the terms.

Also Read: State-owned Japan Post to buy Nomura Real Estate