Sumitomo ignites bidding war for J:COM stake

No less than two days after KDDI announced it would lower its bid for a stake in cable operator J:COM, Sumitomo is going to make a tender offer for shares in the company--according to a source close to the matter.

Such a deal would make Sumitomo the largest stakeholder in J:COM and prevent KDDI from executing its plan acquire a major stake in the cable operator. However, Sumitomo said in a statement that there was 'no truth' to the rumor that it is making a move on J:COM. 

Sumitomo currently owns a 27.7 percent stake in J:COM, making it the second-largest shareholder in the cable MSO.

For more:
- iStockAnalyst has this article

Related articles
KDDI's J:COM purchase comes under regulatory scrutiny
KDDI to take a smaller bite out of J:COM
KDDI hopes to revive growth with J:Com purchase
KDDI America builds U.S. Ethernet hubs

Suggested Articles

Expect a full dose of Kubernetes at next week's VMworld conference in San Francisco, according to VMware CEO Pat Gelsinger.

If there is indeed a global recession in the offing, no one has told the top cloud and colocation providers.

On the same day as its second quarter earnings, VMware announced it's buying Carbon Black and Pivotal for a combined value of $4.8 billion.