Japan : SOFTBANK remains acquisitive although bid for T-MOBILE fails [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) Although Japanese mobile operator Softbank Corp's unsuccessful bid for T-Mobile US Inc was a rare defeat for its brash billionaire founder, few say it would sideline a man bent on building 'the world's No. 1 company.'
Softbank president Masayoshi Son's voracious appetite for take-overs hit a hurdle amid reports earlier in August that the company's US arm had abandoned a US$32 billion proposal for T-Mobile in the face of regulatory opposition, following years of acquiring companies big and small.
Without ever confirming his intentions to acquire T-Mobile, Son repeatedly said that he wanted a stronger No. 3 operator to take on US market giants Verizon Wireless Inc and AT&T Inc, after 2013' huge US$21.6 billion take-over of Sprint Nextel Corp.
The acquisition of T-Mobile was viewed as key to that strategy.
Son said "Softbank does not discuss whether or not we intend to purchase particular firms. I have never made an official comment on this, and I will not have an official comment today."
But still, he added : "I am always exploring various options."
(c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info).
[ Back To Technology News's Homepage ]