Yahoo Japan to buy telecom firm eAccess

ntttttttttttt

Internet giant Yahoo Japan said Thursday it would buy almost all of domestic telecom company eAccess from its parent Softbank Corp in a deal valued at around 324 billion yen.

n

Yahoo Japan, a unit of the Japanese mobile phone and Internet service company Softbank, said the deal was aimed at further growth in its Internet services through smartphones and tablets.

n

By acquiring 99.68% of the telecom company, Yahoo Japan would be able to integrate Internet and mobile businesses, it said in a statement.

n

“We will remain true to our two companies’ DNA. We will continue to be wild and challenge the status quo,” Yahoo Japan president Manabu Miyasaka said, quoted by Dow Jones Newswires.

n

He said details about what kinds of services and pricing plans the new company would roll out would be announced later.

n

The deal is scheduled to be completed in early June, when eAccess is set to merge with telecom company Willcom Inc, also a member of Softbank group.

tttttttntttntttntttttttttttt© (c) 2014 AFPnttttttttt