Japanese telco Softbank’s acquisition of smaller rival eAccess was completed on 1 January.
In statements to the Tokyo and Singapore stock exchanges today, Softbank said that eAccess is now its wholly-owned subsidiary after both companies completed a…
Japanese telco Softbank’s acquisition of smaller rival eAccess was completed on 1 January.
In statements to the Tokyo and Singapore stock exchanges today, Softbank said that eAccess is now its wholly-owned subsidiary after both companies completed a share exchange.
TelecomFinance reported on 10 December that eAccess shareholders had approved the stock swap deal with Softbank.
Softbank agreed to acquire smaller rival eAccess in a share swap deal on 1 October, valuing each eAccess share at Y52,000 (US$670) as part of the share exchange.
The exchange ratio was then raised in November from 16.74 to 20.09 following a decline in Softbank’s share value.
