Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, Liberty Global to sell J:COM interest at General Satellite News forum; Liberty Global to sell J:COM interest By Robert Briel January 25, 2010 08.56 UK Liberty Global has announced the sale ...

LinkBack Thread Tools Display Modes
Liberty Global to sell J:COM interest
Bacteria's Avatar
Posts: 96,015

Level: 124 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 4638 / 4638
Magic: 32005 / 104772
Experience: 68%

Thanks: 1,107
Thanked 5,578 Times in 1,419 Posts
Join Date: Oct 2006
Age: 37
Liberty Global to sell J:COM interest - 25-January-2010, 22:40

Liberty Global to sell J:COM interest

By Robert Briel
January 25, 2010 08.56 UK

Liberty Global has announced the sale of its 37.8% ownership interest in Jupiter Telecommunications (better known as J:COM), the Japanese communications provider, to KDDI Corporation, the second largest wireless operator in Japan.

The cash deal covers the Liberty subsidiaries that directly or indirectly hold its interest in J:COM, including LGI/Sumisho Super Media. Additionally, Liberty will retain the right to receive the anticipated final 2009 dividend of 490 per share attributable to its interest in J:COM that is expected to be approved at the March 2010 J:COM shareholders meeting. Including both the agreed purchase price and the anticipated dividend, Liberty Global expects to make approximately 363 billion ($4.0 billion or 2.83 billion as of January 22, 2010).

Mike Fries, President and Chief Executive Officer of Liberty Global, said in a statement, Our investment in J:COM and our partnership with Sumitomo over the last 15 years have both been extremely successful and gratifying. The J:COM management team and, in particular Liberty Global executives Miranda Curtis and Graham Hollis, have created a world class operation and substantial value for our shareholders. While we pride ourselves on being long-term operators, we have also demonstrated a disciplined and opportunistic approach to rebalancing our business interests globally. Exiting the Japanese market at a substantial premium allows us to redirect our capital into more strategic consolidation opportunities in our core markets as well as our ongoing stock buyback initiatives.

Reply With Quote


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump

ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.