December 13, 2018 / 9:30 AM / 8 months ago

Japan Post to acquire 7-8 pct stake in U.S. insurer Aflac for $2.6 bln -Nikkei

TOKYO, Dec 13 (Reuters) - Japan Post Holdings is set to acquire a 7-8 percent stake in U.S. insurer Aflac for about 300 billion yen ($2.6 billion), the Nikkei Shimbun daily said on Thursday, in a bid to expand overseas as the domestic market shrinks.

Japan Post hoped to approve the plan by the end of December and complete the share purchase by the end of next year, the newspaper said.

Reporting by Malcolm Foster, writing by Elaine Lies; editing by Darren Schuettler

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