Japan's KDDI to buy Jupiter Telecom stake for $4 bn

TOKYO, JAPAN: Japan's KDDI Corp said it will buy a $4 billion controlling stake in Japanese cable TV network operator Jupiter Telecommunications Co as it seeks to expand in cable TV.

KDDI, Japan's No.2 phone operator, said it will buy Liberty Global Inc's 37.8 percent stake in J:Com for 361.66 billion yen.

KDDI, which is seeking an edge against Japan's former monopoly Nippon Telegraph and Telephone Corp, has been trying to make inroads into cable TV through its subsidiary Japan Cable Net Ltd to raise sales of its sluggish fixed line business.

KDDI, which also competes with NTT DoCoMo Inc and Softbank Corp in mobile phones, said that its operating profit dipped 12.5 percent to 125.83 billion yen in October-December as both its mobile phone and fixed line revenues slipped.

Shares in KDDI closed down 2 percent, while shares of J:Com jumped 14.4 percent.