Reuters reported the latest news on the sale, citing sources with knowledge of the matter.
It said that newcomer Bain had teamed up with Japanese trading house Mitsui & Co and the Development Bank of Japan for the auction.
The deadline for the second round of bids is Monday, with Panasonic expected to shortlist a bidder in early September, the sources said.
The proceeds will help Panasonic restructure its struggling consumer electronics business.
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