KDDI To Tender Offer For Elec. Money Servicer

KDDI Corp., a major telecom company, announced that it will conduct a tender offer for WebMoney Corp., a Jasdaq-listed electric money service provider. WebMoney's board of directors and its largest shareholder, Faith Inc. approved the offer. The TOB price is 327,000 yen, a 38.87% premium over its 3-motnh average. KDDI plans to strengthen its financial services through the takeover.