Softbank to buy eAccess for $2.6 bln

[FG Lurker]

Softbank to buy eAccess for $2.6 bln
Nikkei via Reuters, October 1, 2012

Oct 1 (Reuters) - Japan's No.3 mobile carrier Softbank Corp plans to buy smaller mobile operator eAccess Ltd through a share swap in a deal valued at just under 200 billion yen ($2.6 billion), the Nikkei business daily said on its Website on Monday.

The deal, to be announced later in the day, would bring Softbank within striking distance of No.2 mobile carrier KDDI Corp in terms of cellphone users and help lower network infrastructure costs to support Apple Inc iPhones, which Softbank supplies in Japan, the Nikkei said.

(Full Story)

Should be more details when it's announced officially later today. Original Nikkei story seems to be here.

Edit: eAccess' website is here. It seems to be under very heavy load at the moment...

[Coligny]

Share swapping...

This concept is hillarious...

"I give you few pretend part of my company with a make believe value in exchange you give me your company... deal ?"

[FG Lurker]

Share swapping...
This concept is hillarious...
"I give you few pretend part of my company with a make believe value in exchange you give me your company... deal ?"

Considering the stock jumped 26% today it doesn't seem all that hilarious. Looks like investors at least are happy with the deal.

[Coligny]

Sure, as long as everybody keep it real, it's like if there was real... things involved...

Feels like AOL time warner joke all over again...

[FG Lurker]

Sure, as long as everybody keep it real, it's like if there was real... things involved...
Feels like AOL time warner joke all over again...

Softbank is a business with assets and real future potential. AOL was an overvalued turd. I don't see a lot of similarities here...

[legion]

Sure, as long as everybody keep it real, it's like if there was real... things involved...
Feels like AOL time warner joke all over again...

Softbank is a business with assets and real future potential. AOL was an overvalued turd. I don't see a lot of similarities here...

I thought they had a ton of debt.

[Coligny]

Since they are paying in pretend money (their shares) I don't think it matters too much...

Thats were I see like a rerun... hot air everywhere...

[matsuki]

As much as I want Softbank to die a painful death, the more competitive they get, the more it forces Docomo to step up their game.

[cstaylor]

As much as I want Softbank to die a painful death, the more competitive they get, the more it forces Docomo to lean on their friends in the government to pass laws making it harder for Softbank to compete step up their game.

FTFY.

[matsuki]

As much as I want Softbank to die a painful death, the more competitive they get, the more it forces Docomo to lean on their friends in the government to pass laws making it harder for Softbank to compete step up their game.

FTFY.

There is that too...but I think it's becoming more difficult for them to do so based on Docomo's offerings as of late.