Companies / China
If you would like to subscribe to Asia Pacific Telecommunications Insight and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Asia Pacific Telecommunications Insight please click on the trial link below.
Softbank Raises Internet Presence In China
April 2008 | Contract NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Asia Pacific Telecommunications Insight and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Asia Pacific Telecommunications Insight please click on the trial link below.
Softbank, 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.