J:COM and JCN may combine operations

22 Oct 2012

The Yomiuri Shimbun reports that Jupiter Telecom (J:COM) is in talks to buy rival cableco Japan Cablenet (JCN). Both companies share a common parent in the form of KDDI, which currently holds a 31% stake in J:COM and a 95.6% stake in JCN. Trading house Sumitomo Corp owns a 40% stake in J:COM, leaving 29% currently beyond the hands of KDDI and Sumitomo. The newspaper says that the integration of J:COM with JCN will take place once Sumitomo and KDDI acquire these remaining shares in J:COM. The newly combined company will control approximately 50% of Japan’s cable TV market.

Japan, J:COM (Jupiter Telecom), KDDI (au)