World VoIP NewsSumitomo butts in to usurp KDDISumitomo butts in to usurp KDDI

Sumitomo butts in to usurp KDDI


voip, mobile phone, mobile networks
Dow Jones Newswires reports that Japan’s Sumitomo Corp plans to launch a tender offer for shares in domestic CATV operator Jupiter Telecommunications Company (J:COM) in a bid to gain a controlling stake in the company.
Dow Jones Newswires reports that Japan’s Sumitomo Corp plans to launch a tender offer for shares in domestic CATV operator Jupiter Telecommunications Company (J:COM) in a bid to gain a controlling stake in the company.

If realised, Sumitomo's roughly one-third stake would effectively block KDDI Corp's attempts to become J:COM’s largest shareholder. However, Sumitomo was quick to publish a press release stating there was 'no truth' in the claim.

TeleGeography’s GlobalComms Database notes that on 25 January this year KDDI Corp struck a deal to acquire a 38% stake in local cable TV operator Jupiter Telecommunications (J:COM) from Liberty Global Inc in a USD4 billion cash deal which if ratified, would give KDDI more new subscribers and access to a fibre network.

However, KDDI Corp is now looking to scale back its aspirations for J:COM, by buying a reduced stake in the firm from its owner US-based Liberty Global. It is understood the decision follows a ruling from local regulators that KDDI’s original plan was illegal.


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