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Softbank acquires Japanese Cable & Wireless unit

Telecomworldwire, Feb 17, 2005

TELECOMWORLDWIRE-17 February 2005-Softbank acquires Japanese Cable & Wireless unit(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Japanese broadband and telecomms provider, Softbank, has acquired almost all of Cable & Wireless UK's stake in its Japanese unit - Cable & Wireless IDC (C&W IDC) - in a move designed to strengthen its telecomms business.

The company bought 99.99% of C&W IDC - some 12.09bn shares - at a cost of JPY12.3bn. C&W IDC will become a subsidiary of Softbank by the end of March 2005, and from 17 February 2005 will be known as Japan Telecom IDC.

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Softbank acquired Japan Telecom in 2004 as part of its telecomms expansion strategy, and will combine C&W IDC's international voice and data services with Japan Telecom's large-scale domestic telecomms infrastructure, reports Kyodo.

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