Shearman & Sterling advised eAccess on its definitive agreement to acquire the stock of eMobile that it did not currently own. The acquisition was effected by way of a share exchange under Japanese law. The value of the shares acquired was approximately US$1.3 billion. In connection with the merger, eMobile also intends to issue stock to one or more new investors.

eAccess is listed in the First Section of the Tokyo Stock Exchange, and is a leading provider of ADSL services in Japan. eMobile is a leading mobile telecom company in Japan.