Softbank's $15 billion acquisition of Vodafone Japan President Sun Zhengyi

According to Japanese media reports, said Softbank President Sun Zhengyi day before the takeover of Vodafone PLC subsidiary in Japan is completed, he will serve as president of the subsidiary position.

As Japan's largest provider of broadband network, Softbank announced in March, plans to spend 1 trillion and 750 billion yen (about $15 billion) acquisition of Vodafone Japan Ltd. 97.7% stake, which is Japan's largest ever a leveraged buyout.

The acquisition is expected to be completed in the first quarter of 2007. After the success of the acquisition, Softbank will become the third largest telecommunications company in Japan, the company will have a mobile communications service market in Japan, 17%.