Softbank, Japan’s third-largest mobile phone operator, is a frontrunner in bidding for struggling telecoms firm Willcom, reports Reuters, citing Japan’s Yomiuri newspaper. Willcom, which is being sold by US buy-out firm Carlyle, has asked its creditors to reschedule its debt payments as it restructures. As a condition for the bid, Softbank is asking Willcom creditors to forgive part of the borrower’s Y93.5bn ($1.1bn) debt. Carlyle is due to decide on a buyer by year-end.

This entry was posted by Gwen Robinson on Friday, November 27th, 2009 at 4:48 and is filed under Capital markets, M&A, Private equity. Tagged with carlyle, softbank, Willcom. Edit this entry.