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Japan's KDDI to buy two US mobile operators serving immigrants(M&A Navigator Via Acquire Media NewsEdge) Japanese telecomms group KDDI Corp (TYO:9433) said Tuesday it would acquire two US mobile operators targeting immigrants for about JPY3.7bn (USD41m/EUR30m) in an effort to enter the fast-growing market for such services. KDDI's local unit, KDDI America Inc, will buy 51% of each company by the end of March. Following the acquisition, the total number of KDDI's subscribers will reach 300,000. New Jersey-based Locus Telecommunications serves mainly immigrants from Mexico and South Korea, while California-headquartered Total Call Mobile has Guatemalan immigrants as major part of its subscribers. Country: USA Sector: Telecommunications Target: Locus Telecommunications Inc; Total Call Mobile Inc Buyer: KDDI Corporation Deal size in USD: 41m Type: Corporate acquisition Status: Agreed ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |