Japan’s KDDI to buy minority stake in Kabu.com for $800m

Photo: Bloomberg

Japan’s KDDI Corp said on Tuesday it would spend $800 million to buy a minority stake in Kabu.com Securities Co Ltd in the telco’s latest move to expand in finance.

KDDI will pay 559 yen per Kabu.com share, a 4.68 percent premium over Friday’s closing price, the company said, acquiring a minority stake in the online brokerage, a unit of Mitsubishi UFJ Financial Group Inc (MUFG).

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