Fergie's Tech Blog

Vodafone Sells Japanese Unit to Softbank for $12B

A Reuters newswire article, via CNN, reports that:

Vodafone Group has agreed to sell its stake in its struggling Japanese unit to Softbank Corp. for £6.8 billion ($11.87 billion) in cash.

Softbank, Japan's largest broadband Internet provider, has been setting its sights on Japan's $78 billion mobile market for years as it aims to become a pre-eminent communications company, providing broadband, mobile and Internet services and content.

posted by Fergie @ 3/17/2006 06:37:00 AM