By Reuters Staff
1 Min Read
TOKYO, March 12 (Reuters) - Japan Post Holdings Co and mobile phone operator Rakuten Inc have decided to form a capital alliance, public broadcaster NHK said on Friday.
The report drove shares in Rakuten up 7% and Japan Post up 2% in early afternoon trade in Tokyo. (Reporting by Chang-Ran Kim; Editing by Clarence Fernandez)
2 Min Read
TOKYO (Reuters) - Japanese e-commerce firm Rakuten Inc said on Friday it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co Ltd, deepening a logistics tie-up in the face of competition from rivals such as Amazon.com Inc.
FILE PHOTO: The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey
Rakuten, which plunged to an operating loss in 2020, is under pressure on multiple fronts as it battles Amazon in e-commerce and takes on Japan’s cash-rich telcos with its own mobile network.
“Rakuten is the best partner for us, as it has advanced digital technology,” Japan Post Holdings Chief Executive Hiroya Masuda told a news conference.
Aviva has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland, sources told Reuters.
Aviva has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland, sources told Reuters.