SoftBank moves into 2nd bidding round to buy SP.LINKS
Business
SoftBank is in the second round of bidding to buy SP.LINKS, a Japanese payment service in which Blackstone holds an 80% stake.
The deal could be worth around ¥100 billion ($625 million), with second-round bids possibly around mid-July.
A private equity fund is also still in the race.
Sony Bank owns SP.LINKS 20% stake
Sony Bank still owns 20% of SP.LINKS, which could make things interesting if it decides to sell its stake.
This all comes as Japan's cashless payments market is booming: cashless transactions jumped from 17% in 2010 to 58% by 2025, and companies like SP.LINKS are right at the center of this growth.