In a deal that only came to light on September 16, confirmed by the parties involved on September 18, Vodafone has announced that it is planning to take control of Japan Telecom, Japan’s third-largest telecom operator.
The transaction is a $2.64 billion tender offer for 21.7% of the company. It will take Vodafone’s holding in J-T to 66.7%. The 66.7% is absolutely fundamental because to have ownership is to have management control. And with this, Vodafone also gets the jewel in the crown, the unlisted mobile phone operator J-Phone.
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