Britain's mobile phone giant Vodafone Group Plc plans to raise its stake in Japan Telecom Co to 66.7 percent from the current 45 percent through a takeover bid this month, a daily said yesterday.
Vodafone -- the world's largest mobile phone operator -- will invest about ?220 billion (US1.9 billion) to buy shares in Japan's number three telecommunications, targeting all shareholders, the Keizai Shimbun said.
East Japan Railway Co, the second-largest shareholder in Japan Telecom, is expected to agree to sell 10 percent of its 15.1 percent stake to Vodafone, the business daily said.
Vodafone plans to announce the takeover bid today.
Under the plan, Vodafone is expected to buy Japan Telecom shares at a 10 percent premium per share on the market price. The company will halt purchasing once it secures the desired stake.
The UK company has already called on Japanese regulators, investment banks and other concerned parties to cooperate. The firm estimates that the move will take about one month to complete.
By taking a 66.7 percent stake in Japan's third largest telecommunications company, Vodafone aims to decide Japan Telecom's management strategy independently, the Nihon Keizai said.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained