Liberty completes J:COM sale
February 22, 2010
Liberty Global has completed the sale of its 37.8 per cent stake in Jupiter Telecommunications (J:COM) to KDDI in a $4bn cash deal.
The Tokyo-based carrier earlier this month scaled back its plan, saying it would retain 31.1 percent of Jupiter and place 6.7 percent in a trust bank, after the bid led Japan's financial regulator to examine the deal's legality. The revised offer means KDDI has waived the right to veto management decisions at Jupiter.