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Japan: KDDI plans to become nations biggest mobile phone provider

 |  October 26, 2012

KDDI Corp. has announced plans to buy Jupiter Telecommunications Co. also known as JCON, with Sumitomo Corp., promoting nation’s second-largest mobile phone company to Japan’s largest. In reaction to the announcement, KDDI had its biggest gain of 5.5 percent since March 16, 2011. JCOM is now valued at 759 billion yen. Under terms of the deal, KDDI’s Japan Cablenet Ltd. will fold into JCOM, adding an expected 60 billion yen in profits for KDDI.

Full Content: Bloomberg

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