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

On Wednesday, Cisco announced two critical security warnings in regard to issues with its SD-WAN software and DNA Center software.

Building on the work they've done across SD-WAN, Orange Business Services is teaming up with Cisco on software-defined LAN for enterprises.

AT&T is driving forward on its multi-access edge compute (MEC) ambitions by working with HPE to deliver services to businesses.