TOKYO — Japan’s second- largest telecommunications company, KDDI Corp., said Monday it is acquiring Liberty Global’s stake in Japan’s largest cable-TV operator for $4 billion in cash.
Liberty Global is selling its 37.8 percent stake in Jupiter Telecommunications, known as J:Com, to KDDI in mid-February.
The 2.6 million-share deal comes to 140,000 yen per share, or about $1,550, representing a 65 percent premium over J:Com’s closing stock price Friday.
Liberty Global, a Douglas County-based cable-TV operator whose chairman is cable pioneer John Malone, wants to focus its investments in Europe.
Meanwhile, the European Commission on Monday approved Liberty Global’s acquisition of Unitymedia GmbH, Germany’s second-largest cable-TV operator.
The $5.2 billion deal, in cash and assumption of debt, is expected to close in a few days.
