Softbank sells two-thirds of eAccess

17 Jan 2013

Japan’s third largest wireless operator by subscribers, Softbank Corp, is to sell two-thirds of eAccess to more than ten companies, including Samsung Electronics and a unit of Nokia Siemens Networks (NSN). Softbank previously 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. The sale is expected to close by the end of January and will raise several billion yen. After the deal is complete, Softbank will retain 33.29% voting rights in eAccess.

Japan, SoftBank Group Corp