Jupiter Telecommunications agrees to Sumitomo’s tender offer

2 Mar 2010

Dow Jones reports that Jupiter Telecommunications yesterday agreed to a planned tender offer bid by domestic trading company Sumitomo Corp. Last month Sumitomo announced plans to launch a tender offer of up to JPY122.18 billion (USD1.36 billion) to increase its holdings in Jupiter Telecommunications, Japan’s largest cable TV operator, to 40% from 27%. The group’s bid came in the wake of KDDI Corp’s plan to pay about USD4 billion to buy a roughly 38% stake in Jupiter from US-based Liberty Media .

Japan, J:COM (Jupiter Telecom)