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Softbank changes eAccess share swap ratio after stock decline
November 2, 2012 / 9:35 AM / 5 years ago

Softbank changes eAccess share swap ratio after stock decline

Softbank Corp President Masayoshi Son speaks during a news conference in Tokyo in this May 9, 2012 file photo. REUTERS/Yuriko Nakao/Files

TOKYO (Reuters) - Japan’s Softbank Corp said on Friday it will change its share swap ratio with eAccess Ltd, which it acquired in a $1.84 billion deal at the start of last month.

Softbank said it will change the swap ratio to 20.09 from 16.74. The decision follows a decline in Softbank’s share price that took place after it announced in October that it would buy a 70 percent stake in Sprint Nextel Corp, the third-largest U.S. carrier.

Reporting by Shinichi Saoshiro; Editing by Matt Driskill

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