Softbank Corp. (SFTBF.PK) announced its Board resolved to approve the transfer of part of the shares of eAccess to 11 third-party purchasers. As a result of the share transfer, eAccess becomes an equity method affiliate of Softbank Corp. eAccess became a wholly-owned subsidiary of the company pursuant to a share exchange that took effect on January 1, 2013.
Softbank Corp. decided to transfer a part of its shares in eAccess in order for eAccess to maintain a certain degree of independence, which the company believes will facilitate the continued expansion of eAccess’ business.
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by RTT Staff Writer
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