NTT Docomo Inc. is buying SBI Holdings Inc.’s online bank in a ¥420 billion ($2.9 billion) deal to shore up the Japanese mobile carrier’s financial offerings in a hyper-competitive market.
Nippon Telegraph & Telephone Corp.’s mobile unit will launch a tender offer for SBI Sumishin Net Bank Ltd., offering ¥4,900 per share — a 49% premium to the online bank’s closing price on Wednesday. At the conclusion of the deal, Docomo aims to own 65.81% of the online bank, which will delist. Sumitomo Mitsui Trust Bank Ltd. will continue to hold 34.19% of SBI Sumishin, the companies ...
