Softbank wants a bigger stake in Oak Pacific Interactive

Softbank wants a bigger stake in Oak Pacific Interactive

Japanese telecom company Softbank has said that they are now trying to increase their stake in the Chinese company Oak Pacific Interactive.

They had earlier acquired a 14 percent stake in this Chinese company for around $96 million. They have the right to increase the stake to 40%.

Softbank is yet to come out with a formal offer to expand their ownership in this company.

Oak Pacific Interactive has around 22 million subscribers in the Chinese internet market which is now as big as the US market.