KDDI’s plan to purchase a 37.8% stake in Jupiter Telecommunications Co (JCom) for US$4bn from Liberty Global has hit a regulatory hurdle.
Japanese financial regulators are investigating the legality of the deal and could impose a US$884m fine on…
KDDI’s plan to purchase a 37.8% stake in Jupiter Telecommunications Co (JCom) for US$4bn from Liberty Global has hit a regulatory hurdle.
Japanese financial regulators are investigating the legality of the deal and could impose a US$884m fine on KDDI.
Lawyers have raised concerns that the deal, which will result in KDDI becoming the largest single shareholder, needs to be undertaken via a public tender offer for the shares after getting shareholder approval.
Earlier this month, Liberty Global reached an agreement to sell its 37.8% stake in Jupiter Telecommunications Co (JCom) to KDDI Corporation for US$4bn.
Liberty Global is being advised by JPMorgan. KDDI is being advised by UBS.
If the deal goes through, KDDI will fund the deal through a mixture of equity and debt.