Japanese multiple system operator (MSO) Jupiter Telecommunications (J-COM) has revealed that it will acquire a majority stake in its cable operator affiliate Cable Net through the transfer of a portion of shares held by local companies. Following the transaction Cable Net, which provides multi-channel cable television, high speed internet access, fixed line and mobile telephony services under the J-COM brand in the Yamaguchi prefecture, will become a consolidated subsidiary of J-COM.
Cable Net was established as a wholly owned unit of J-COM in 1996, following which local companies began to acquire equity in it. The MSO continued to manage Cable Net in partnership with its local partners. The stock purchase is expected to be completed by 30 September 2006 at which time J-COM’s equity interest in the cableco will rise to 60%. Going forward, J-COM will continue to operate Cable Net as an integral provider to the local community.