Softbank speeds up eAccess takeover deal

6 Nov 2012

The Japanese telco Softbank has revealed that it intends to complete its takeover of smaller rival eAccess by 1 January 2013, bringing forward the completion date from the end of February as was originally announced. The delisting of eAccess from the Tokyo Stock Exchange is now expected to take place on 26 December this year rather than 25 February 2013 as forecast in the original takeover schedule. Softbank first announced the all-stock deal at the start of October; eAccess is valued at around JPY180 billion (USD2.3 billion). Softbank also recently unveiled plans to acquire a majority stake in US operator Sprint Nextel.

Japan, SoftBank Group Corp