Japan’s second largest telecom company KDDI has agreed to buy up to 47.3 per cent of Japan Cablenet, the country’s second largest cable TV firm, giving KDDI additional ability to integrate TV and telephone services. Under the deal, KDDI will initially control 38.18 per cent of the Japan Cablenet Group, buying shares from Secom Company and Marubeni Corporation. It plans to make a further offer for shares to bring its stake up to 47.3 per cent for a total payment of up to 33.5 billion yen ($281.8 million). KDDI’s partner in optic fibre services, Tokyo Electric Power Company (Tepco) has an over 20 per cent stake in Japan Cablenet. KDDI’s purchase would give it and Tepco control of the unlisted company.
