Japanese mobile giant Softbank is considering buying shares in US retailer Brightstar in a reported Y100bn (US$1bn) deal.
The Tokyo-based group, which last month paid around US$500m to up its stake in number three US telco Sprint to just over 80%, said…
Japanese mobile giant Softbank is considering buying shares in US retailer Brightstar in a reported Y100bn (US$1bn) deal.
The Tokyo-based group, which last month paid around US$500m to up its stake in number three US telco Sprint to just over 80%, said today it was in talks with the handset distributor but “nothing has been decided at this point”.
A local report had previously claimed it was set to buy up to 70% of privately-owned Brightstar.
Fresh from completing its US$21.6bn takeover of Sprint in July, Softbank is seen as keen to continue its expansion out of Japan’s crowded market to grow in vertical and horizontal channels elsewhere.
Yesterday it announced a (US$1.53bn) deal for a 51% stake in Finnish mobile game developer Supercell, which is best known for its popular strategy title Clash of Clans.
The mobile operator has a lot of support from the debt markets, and in September it secured a Y1.98trn (US$20bn) loan in one of the largest-ever syndicated facilities in Asia Pacific.
