Companies / China
Softbank Raises Internet Presence In China
April 2008 | Contract NewsSoftbank, the Japanese telecoms service provider, has acquired a 14% stake in privately owned Chinese internet company Oak Pacific at a cost of US$96mn. The aim is for Softbank to create a stronger presence in China's internet market. Under the terms of the deal, the Japanese operator will also has the right to exercise stock warrants for another JPY30bn (US$288mn) a year. This option would allow Softbank to raise its stake in Oak Pacific to 40%, making it the largest shareholder.
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