Rakuten says plans to buy additional TBS shares

(Reuters) - TOKYO, April 19 - Japan's Rakuten Inc. said on Thursday it planned to buy more shares in Tokyo Broadcasting System Inc. to push through its long-running merger proposal, but the plan could trigger the broadcaster to implement a planned takeover defence measure.

Negotiations between the two companies on a possible alliance have dragged on for more than a year since Rakuten's failed takeover bid for TBS in 2005. Rakuten, Japan's biggest online shopping mall operator, told TBS in a statement it aimed to hold more than 20 percent of the broadcaster's shares, which could make TBS a Rakuten affiliate.


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