M&A

26 November, 2009

Softbank among bidders for Carlyle's Willcom -media

TOKYO, Nov 27 (Reuters) - Softbank Corp (9984.T), Japan's No. 3 wireless carrier, is offering to buy struggling telecom firm Willcom Inc, the Yomiuri newspaper reported on Friday.

Willcom, whose top shareholder is private equity firm Carlyle [CYL.UL], is in the middle of turnaround efforts, asking its creditors to reschedule its debt payment.

Softbank is seen as a favoured bidder among several likely contenders including some funds, and Carlyle is likely to decide the buyer by the end of the year, Yomiuri said.

Softbank is eyeing Willcom's next-generation high-speed wireless network and its subscribers, the paper said. (Reporting by Taiga Uranaka) ((taiga.uranaka@thomsonreuters.com; +81-3-6441-1813; Reuters Messaging: taiga.uranaka.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))

Source: http://www.reuters.com