KDDI to buy TEPCO fiber-optic unit for $847 mln-paper

Newswire

TOKYO, Sept 30 (Reuters) - Japanese telecoms operator KDDI Corp. has agreed to buy Tokyo Electric Power Co.'s fiber-optic unit for more than 100 billion yen ($847 million) in stock, the Nihon Keizai newspaper reported on Saturday. The business daily said KDDI planned to issue new shares to finance the deal, which would give it Tokyo Electric Power's (TEPCO) fiber-optic network in the greater Tokyo area as well as the key access lines into businesses and homes. Fibre-optic networks, which ...

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