Kddi To Buy Stake In Convenience Store Chain Lawson For Phone Payment Tie: up - Nikkei

Lawson

16/12/2019 03:16

TOKYO, Dec 16 (Reuters) - Japanese telecom company KDDI Corp
 9433.T  will pay more than 12 billion yen ($110.46 million) for
about a 2% stake in convenience store chain Lawson  2651.T  as
the pair tie up in smartphone payment services, the Nikkei
Shimbun reported.
    The tie-up will include Lawson's parent company, Mitsubishi
Corp, the newspaper said on Monday.
    KDDI's president will hold a joint news conference with the
presidents of Lawson and Mitsubishi Corp's consumer products
group at 4:30pm (0730) in Tokyo, the telecom company said in an
email.
 ($1 = 108.6400 yen)

 (Reporting by Kevin Buckland; Editing by Himani Sarkar)
 ((Kevin.Buckland@thomsonreuters.com;))