Softbank, which bought Vodafone’s Japanese venture a couple of months ago, has now rebranded it to Softbank Mobile, and has tied up again with Vodafone in a 50-50 joint venture to develop mobile phones, services and content, mostly for Japan. This will not affect the earlier buyout deal.
Under this latest agreement, the companies will work together to develop and purchase handsets, create software as well as make and distribute mobile content. Both sides will send four members each, including Voda CEO Arun Sarin and Softbank CEO Son to the board forthe new joint venture, capitalized at up to 11 billion yen ($100 million).
AFX: Softbank plans to re-brand the 1,856 Vodafone shops in Japan and rename products and services in time for the change in the name of the company on Oct 1.
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