A month since Internet shopping mall operator Rakuten Inc. proposed integrating itself with Tokyo Broadcasting System Inc., other players ranging from information technology firms to foreign financial firms have also entered the fray.
On Nov. 1, Rakuten told TBS it wouldn't buy any more shares in the broadcaster if TBS stopped trying to "enclose" shareholders. TBS has been asking its allies to buy more shares to prevent a hostile takeover.
The vow, however, was viewed as an indication that Rakuten didn't know what to do next.
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