Bain to buy Japan’s largest smartphone retailer for $980m

TOKYO — Bain Capital on Monday bought Japan's largest mobile phone sales agent T-Gaia, with major shareholders Sumitomo Corp. and announced that it would buy a stake in Tokyo-based Hikari Tsushin.

The total purchase price of the US private equity group's acquisition of the retailer is expected to exceed 140 billion yen ($980 million).

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