At deadline briefs: Adobe hires Sun's top software exec

20.03.2006

Softbank to buy Vodafone unit

Softbank Corp. has agreed to buy Vodafone Group PLC's struggling Japanese mobile phone unit for $15.3 billion. Vodafone said the division had been unlikely to bring it "superior long-term returns." Vodafone CEO Arun Sarin acknowledged that the unit was late in implementing 3G mobile technology. The deal is expected to close by June.