NTT Docomo, the wholly owned mobile-carrier subsidiary of NTT, stated its intention to roll out a tender offer to acquire shares of SBI Sumishin, an online bank, and take it private. The company, as well as other mobile carriers such as SoftBank and KDDI have been working on extending their financial services businesses as consumers increase their use of smartphones.
The mobile unit of NTT underlined that the acquisition is set to support its commitment to providing a range of financial services, including investment, lending, insurance, and settlement. Jointly created by SBI Holdings and Sumitomo Mitsui Trust Bank, SBI Sumishin was listed in Tokyo in March 2023. Now, SBI Holdings and Sumitomo Mitsui each hold a 34% stake in the online bank, while the rest is held by public shareholders.
Furthermore, NTT Docomo intends to acquire SBI Sumishin’s shares at approximately USD 34 each, which will value the company at nearly USD 5.1 billion, as the latter had 150.8 million shares outstanding as of the end of March 2025. Additionally, NTT Docomo aims to spend USD 1.6 billion on the tender office, set to start at the beginning of June 2025 and end on 10 July 2025. Following the tender offer, SBI Sumishin seeks to buy back its shares held by SBI Holdings.
In its statement, NTT Docomo mentioned that it expects to hold approximately a 66% stake in SBI Sumishin after a series of transactions, while Sumitomo Mitsui Trust Bank will retain a 34% share. Also, the companies are set to have a 50% voting stake in the online bank.
Additionally, SBI Holdings stated that NTT will purchase nearly USD 775 million of new shares in the firm and position itself as one of its most substantial shareholders.
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