Rakuten Inc., already embroiled in a prolonged takeover battle with Tokyo Broadcasting System Inc., reaffirmed Tuesday its intention to boost its stake in the broadcaster to about 21 percent.
Speaking in Tokyo at a news conference to announce the online shopping mall operator's earnings results for the first half of fiscal 2007, Rakuten Deputy President Atsushi Kunishige said the proposed acquisition of additional TBS shares is aimed at making the broadcaster an equity-method affiliate of the Internet firm.
Kunishige said Rakuten was invited to speak twice to TBS' advisory panel and told the panel that the Internet firm has no intention of boosting its stake in TBS to more than 21 percent.