TOKYO -- KDDI will invest in online brokerage Kabu.com Securities and establish a holding company for finance-related subsidiaries, diversifying its revenue sources as smartphones transform the way customers access such services.
The Japanese mobile carrier announced Tuesday that it will spend as much as 91.4 billion yen ($827 million) on a tender offer that will fetch a 49% stake in Kabu.com. That equates to 559 yen per share, a 6% premium over Tuesday's closing price. Mitsubishi UFJ Financial Group will remain the majority shareholder after the deal, which is scheduled for completion within 30 business days from late April. Kabu.com will be delisted thereafter.
By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our
to learn how you can update your cookie settings.