KDDI to spend $800m to acquire a minority stake in Kabu.com.

Japan’s KDDI Corp will spend $800m to buy a minority stake in Kabu.com Securities in the telco’s latest move to expand in finance. KDDI will pay JPY559 ($5.07) per Kabu.com share, a 4.68% premium over Friday’s closing price, acquiring a minority stake in the online brokerage, a unit of Mitsubishi UFJ Financial Group, which holds around 59% stake in Kabu.com. KDDI also would raise its stake in Jibun Bank, a 50/50 joint venture with MUFG’s banking unit, to 63.78%.