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Softbank seeks to sell 67% stake in eAccess
2013-01-14 02:14:00| Telecompaper Headlines
(Telecompaper) Japanese communications provider Softbank is in talks with eleven companies to sell a 67 percent stake in its new subsidiary eAccess. Softbank acquired eAccess recently through a share swap and is now in negotiations to sell a roughly 6 percent stake each to eleven companies to reduce its stake to around 33 percent, the Nikkei reports. Buyers are thought to include Samsung Electronics, LM Ericsson, Nokia Siemens Networks, and Orix. Softbank is selling the eAccess interest to facilitate smoother upgrades of the telecommunications network through stronger ties with equipment vendors and to skirt the policy in Japan that limits spectrum allocations to companies with ownership in subsidiaries of over one third of shares. To prevent any impact on its US operations, Softbank is not selling stakes to Chinese vendors.
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Category:Telecommunications