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Softbank to sell stake in eAccess to Samsung, others
January 17, 2013 / 6:20 AM / 5 years ago

Softbank to sell stake in eAccess to Samsung, others

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.

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