Softbank changes eAccess share swap ratio after stock decline

Reuters News
|
Posted: Oct 31, 2012 4:57 AM
Softbank changes eAccess share swap ratio after stock decline

TOKYO (Reuters) - Japan's Softbank Corp said on Friday it will change its share swap ratio with eAccess Ltd, which it acquired in a $1.84 billion deal at the start of last month.

Softbank said it will change the swap ratio to 20.09 from 16.74. The decision follows a decline in Softbank's share price that took place after it announced in October that it would buy a 70 percent stake in Sprint Nextel Corp, the third-largest U.S. carrier.

(Reporting by Shinichi Saoshiro; Editing by Matt Driskill)