World VoIP NewsJupiter Telecommunications agrees to Sumitomo tender offerJupiter Telecommunications agrees to Sumitomo tender offer

Jupiter Telecommunications agrees to Sumitomo tender offer


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Dow Jones reports that Jupiter Telecommunications agreed to a planned tender offer bid by domestic trading company Sumitomo Corp.
Dow Jones reports that Jupiter Telecommunications agreed to a planned tender offer bid by domestic trading company Sumitomo Corp.

Last month Sumitomo announced plans to launch a tender offer of up to JPY122.18 billion (USD1.36 billion) to increase its holdings in Jupiter Telecommunications, Japan's largest cable TV operator, to 40% from 27%. The group’s bid came in the wake of KDDI Corp’s plan to pay about USD4 billion to buy a roughly 38% stake in Jupiter from US-based Liberty Media .


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