KDDI Soars on $2.7 Billion JCOM Offer With Sumitomo

KDDI Soars on $2.7 Billion JCOM Offer With Sumitomo

Akio Kon/Bloomberg

People stand outside a KDDI Corp. outlet in Tokyo. The deal values JCOM at 759 billion yen and will also fold KDDI’s Japan Cablenet Ltd., which controls 12 percent of the country’s pay TV market, into JCOM, giving the merged operator a 3 percent share, according to the companies’ joint presentation yesterday.