OREANDA-NEWS. SoftBank Corp. announced an amendment to the previously disclosed item announced in the "Acquisition of Brightstar Corp. Shares" dated October 19, 2013.

In accordance with the decision made by Brightstar Corp. ("Brightstar") in December 2013 to acquire 20:20 Mobile Group Limited, filing of a reapplication to the Committee on Foreign Investment in the United States (CFIUS) is required. Therefore, it is expected that Brightstar will become a subsidiary of SoftBank between late January 2014 and February 2014.

In the Transaction, SoftBank will invest a total of USD 1.26 billion (approx. JPY 124.7 billion) into certain U.S. subsidiaries. Such U.S. subsidiaries will purchase 100% of the shares of Brightstar for approximately USD 1.105 billion (approx. JPY 109.4 billion) cash consideration, and U.S. subsidiary shares as noted in 3. (5) below. As a result of the Transaction, SoftBank will indirectly own approximately 57% of the voting power, and common stock, of the shares of a U.S. subsidiary that will own 100% of Brightstar, making Brightstar a subsidiary of SoftBank. Furthermore, SoftBank plans to gradually exercise the Warrant (defined below) to increase its ownership in the U.S. subsidiary to approximately 70% of the voting power, and common stock, over the five year period following step (1) of "2. Transaction Method."