Japan's NTT takes 8.91% stake in SBI Holdings under capital alliance deal
FILE PHOTO: The logo of NTT (Nippon Telegraph and Telephone Corporation) is displayed at the company office in Tokyo, Japan September 29, 2020. REUTERS/Issei Kato/ File Photo
TOKYO :Japan's Nippon Telegraph and Telephone will invest about 110 billion yen ($755.49 million) in SBI Holdings to acquire an 8.91 per cent stake, as the two companies aim to integrate their digital technology and financial services.
Under the deal, SBI said it will issue 27 million new shares to Japan's largest telecommunications firm through a third-party share allotment.
($1 = 145.6000 yen)
Source: Reuters
