J:COM to acquire all shares in JCN

21 Nov 2013

Japanese telecoms giant KDDI (au) has announced that its subsidiary J:COM will acquire all 650,000 shares in Japan Cablenet (JCN) by 2 December 2013, the next step in the ongoing integration of the two companies into one business entity. According to TeleGeography’s CommsUpdate, in October 2012 KDDI and fellow J:COM shareholder Sumitomo Corporation announced a plan to take full control of J:COM by buying out the remaining shareholders and then merging JCN into J:COM. KDDI and Sumitomo will take equal 50% stakes in the merged entity which will have around 52% of the country’s cable television market and 49% of the cable internet sector, with 9.2 million RGUs between them. The process is expected to be finalised by April 2014, and under the agreed terms, JCN will be converted into a subsidiary of J:COM on that date.

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