Softbank completes eAccess share swap deal

9 Jan 2013

The Japanese telecoms group Softbank has announced the completion of a share swap deal which has seen it acquire smaller rival eAccess. The USD1.8 billion deal, which was first announced in October 2012, sees Softbank retain its third place in Japan’s cellular market, although it is now breathing down the neck of number two operator, KDDI, with both firms now having in the region of 36 million customers. Market leader NTT DoCoMo is well out in front with more than 60.7 million subscribers. Softbank has committed to reducing its stake in eAccess to less than one-third in order to comply with limits on spectrum ownership which cover wireless carriers and their subsidiaries.

Japan, SoftBank Group Corp