Conglomerate Softbank agreed to buy Vodafone’s Japan business for 1.8 trillion Yen ($15.5 billion), realizing its dream to become a communications powerhouse with a strong foothold in Japan’s $78 billion mobile market.
The deal also marks the first real retreat from an expansionist strategy that has characterized British-based Vodafone for years, as it faces pressure to focus on its slowing core European operations and return cash to investors.
