Softbank to sell stake in eAccess to Samsung, others

TOKYO Thu Jan 17, 2013 1:17am EST

TOKYO Jan 17 (Reuters) - Japan's Softbank Corp said on Thursday that it would sell a part of its stake in eAccess Ltd, representing around 67 percent of voting rights held in preferred shares, to a fund owned by Samsung Electronics Co and 10 others.

Softbank, which is awaiting regulatory approval to buy a 70 percent stake in No. 3 U.S. mobile carrier Sprint Nextel Corp , bought Japanese rival eAccess last October as it stepped up competition with its nearest competitor KDDI Corp.