Cable operator Liberty Global is selling off its 37.8 stake in Japanese broadband provider Jupiter Telecommunications to wireless operator KDDI Corporation for $4 billion. The deal is part of a plan by Liberty Global, which is controlled by John Malone, to refocus its concentration on Europe. Exiting the Japanese market will also allow Liberty Global to continue its ongoing stock buyback initiatives, said Mike Fries, president and CEO, in a statement. Two months ago, the company acquired German cable and broadband business Unitymedia for €2 billion ($2.96 billion; £1.79 billion). Liberty had a partnership agreement with Sumitomo Corp., which held about a quarter of Jupiter, to manage J:Com. Release (PDF)
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