Vodafone Japan rocked the markets yesterday by confirming it is looking to sell out to Softbank for up to $15 billion and exit the Japanese market. The move, which set its shares skyrocketing, is the first time Vodafone is actually getting out of a market instead of getting in.

Even though the Japanese market has been consolidating, Vodafone has actually lost customers recently in the face of competition from DoCoMo and KDDI. Interestingly, Softbank actually acquired a 3G license recently, and a deal with Vodafone would give it instant market position, though it would face many of the same dynamics - falling ARPU, a sagging middle market, and a rapidly changing technology landscape.