Japan's Softbank sells two-thirds of recent eAccess acquisition

The Japanese operator said it sold control to 11 firms including Samsung and Alcatel-Lucent subsidiaries

Japan's Softbank has sold off a large portion of a local carrier it acquired just weeks ago, as it looked to assuage fears over its expanded control of Japan's wireless spectrum.

The company, which runs one of Japan's largest mobile operators, said Thursday it sold off two-thirds of the voting shares in eAccess, a rival operator that focuses mainly on data services. Softbank made eAccess a subsidiary on Jan. 1.

Softbank had faced concerns that the purchase would give it too big a share of Japan's wireless bands, which are tightly regulated by the government. The company said that it informed Japan's Ministry of Internal Affairs and Communications of its intention to possibly sell off the stake in November.

The shares were sold to 11 buyers, including subsidiaries of Samsung Electronics, Alcatel-Lucent and Nokia Siemens, as well as several Japanese financial firms. Each now owns about a 6 percent voting stake in eAccess.

Financial details of the deal were not disclosed, though any income could help finance another Softbank acquisition, its deal to acquire U.S. operator Sprint for US$20 billion.

Softbank, led by charismatic founder and CEO Masayoshi Son, announced it had signed a $2 billion deal to acquire eAccess in October. The operator, which has piled on users in recent years but struggled with a reputation for poor network service, said the acquisition would help it quickly add high-speed LTE infrastructure, as well as access to more network frequencies.

Two weeks later, Softbank revealed another blockbuster deal, its agreement to acquire a majority stake in Sprint Nextel. Softbank is expected to aggressively compete on price in the U.S. market, a tactic it has used effectively at home in Japan.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuestelecommunicationinvestments4gSoftbankCarriers

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jay Alabaster

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?