Will that be Cash or DoCoMo?
DoCoMo is in talks with Sumitomo Mitsui Financial Group and JCB about investing in their credit card businesses in a step forward for the vision of integrating mobile communications with financial services. Japan’s largest mobile phone operator is looking to pay about Y100bn ($938m) for a 33.4 per cent stake in SMFG’s 100 per cent-owned card business, Mitsui Sumitomo Card, Japan’s number two credit card operator, and a smaller stake in JCB, the country’s number one card provider.
DoCoMo is aiming to conclude a deal this month but negotiations have been complicated by the need to balance the interests of the two card companies, a person familiar with the situation said. Continue >>