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Japan: Minority shareholder victory as bid raised to buy cable TV leader

By  |  February 27, 2013

The bidding to take over Japan’s largest cable television operator has been raised by 12 percent, according to reports. Mobile carrier KDDI Corp. and trading house Sumitomo Corp. have increased their offer to $1,338 a share in their quest to jointly own 71 percent of Jupiter. According to one analyst, the bid increase is a rare win for minority shareholders in a nation where bid increases as a result of investor pressure is relatively unusual. Reports say the deal announcement was delayed due to a lag in approval by Chinese antitrust regulators.

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