J:COM To Buy Shares In Japan Cablenet


News: Japanese telecoms operator KDDI's subsidiary J:COM is scheduled to buy all 650,000 shares in Japan Cablenet (JCN) by December 2. This is seen as the next step in the ongoing integration of the two firms into one business entity. Recently KDDI and fellow J:COM shareholder Sumitomo Corporation announced a plan aimed at taking 100% control of J:COM by buying out the remaining shareholders and then merging JCN into J:COM. KDDI and Sumitomo will take a 50% stake each in the merged entity. The process should be completed in April 2014.

This article is tagged to:
Sector: Telecommunications
Geography: Japan