TOKYO — Kanebo Ltd. will stick to talks with Kao Corp., despite local reports on Sunday, saying that the nation’s major investment fund, Unison Capital, is in negotiations with Kanebo to buy its cosmetics division. Kanebo denied the possibility. “We are in the final phase of negotiation with Kao,” said Kanebo in a statement. Kanebo and Kao first announced in October their intent to merge their cosmetics business by 2007, but on Jan. 31, the two firms made an announcement about the shift from establishing a joint venture to Kao’s takeover of Kanebo’s cosmetics business.

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