Having successfully acquired a stake in Jupiter Telecom in February, KDDI is thinking of increasing its stake in the cable operator to majority status.
Although it did not reveal when it would strike a deal, Tadashi Onodera, KDDI's president revealed on Friday that it "naturally" would like to have the majority stake in Jupiter.
However, gaining a majority stake in Jupiter won't come without a challenge for KDDI. Earlier this month, Sumitomo Corp. upped its stake in Jupiter to 40 percent as a way to keep a firm hand on Japan's largest cable operator.
The market greeted the news favorably as Jupiter's shares shot up 3.2 percent on the Jasdaq Securities Exchange.
For more:
- Bloomberg has this article
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