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December 15, 2005

Microsoft reduces stake in Japan’s Jupiter Telecom

Posted by David Hunter at 8:11 AM ET.

Reuters:

Microsoft Corp. has sold a 12.67 percent stake in top Japanese cable company Jupiter Telecommunications Co. to Goldman Sachs, which offloaded it almost immediately to institutional investors, a source familiar with the situation said on Thursday.

The U.S. software giant is the latest company to cash in on the strength of Japan’ stock market, and is seen raising 79 billion yen ($672.1 million) from the deal based on Jupiter’s closing price on Thursday of 97,800 yen.

Shares in Jupiter have risen 22.2 percent since the company debuted on Japan’s Jasdaq market for start-ups in March.

Microsoft still retains a 1.45 percent share.



Filed under Acquisitions, Financial, General Business

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