Tokyo (ANTARA News/Asia Pulse) - Japan's KDDI Corp. (TSE:9433) said Thursday that it will acquire a 50 per cent interest in leading Bangladeshi Internet service provider BRAC BD Mail Networks Ltd., or bracNet.

KDDI will purchase all shares to be issued by bracNet in a private placement for roughly 800 million yen (US$8.85 million)  and convert the firm into an equity-method unit.

The acquisition is expected to be completed in January. BracNet was established in 1996 jointly by a U.S. investment fund and a Bangladeshi nongovernmental organization.

It has been building a network based on the WiMAX wireless data communications technology and operating 110 stores that offer Internet access for a fee.
 


Source:
Business in Asia Today - Nov 14, 2009
published by http://www.asiapulse.com