Softbank Acquires Vodafone K.K.
March 24, 2006
On March 17 Softbank announced that it will acquire Vodafone K.K, Vodafone's Japanese unit, for approximately US$15.3 billion. Softbank will then become the third largest telecom in Japan. Through this acquisition Softbank will gain 15 million mobile phone subscribers. However, a concern has been raised that buying out the loss-making Vodafone K.K may increase Softbank's financial burden.