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--Softbank has announced it is in discussions with Sprint Nextel to invest in the U.S.-based wireless company.
LONDON, Oct 12- U.S. stock index futures pointed to a fractionally higher open on Wall Street on Friday, with futures for the S&P 500 up 0.2 percent, and contracts on the Dow Jones and the Nasdaq 100 up 0.1 percent at 0828 GMT.
Oct 12-=============================================================================== Ratings-- Softbank Corp.----------------------------------------- 12- Oct-2012=============================================================================== CREDIT RATING: BBB/Watch Neg/-- Country: Japan Primary SIC: Computer related services, nec Mult.
*Softbank shares down as much as 17 pct in Tokyo* Softbank and Sprint have confirmed in talks* Broker warns of "unacceptable" gearing levels.
*Softbank slumps 17 pct, in talks to invest in Sprint Nextel. TOKYO, Oct 12- Japan's Nikkei share average slipped to a fresh two-month low on Friday, with Softbank Corp. tumbling 17 percent after the wireless service provider said it was in talks to invest in U.S. firm Sprint Nextel.
is in talks to buy a significant stake in Sprint Nextel Corp, the ailing U.S. wireless carrier said. A deal would offer a multibillion-dollar lifeline that could help Sprint finance future mergers of its own and better compete with its much bigger and richer rivals.
*Sprint Nextel Corp said Thursday that it was in discussions with SoftBank Corp over a "potential substantial investment". The talks, which began this summer, center on SoftBank, a Japanese telecommunications company, paying $12.5 billion for a stake of about 70 percent in Sprint, according to a person briefed on the matter.
TOKYO, Oct 12- Japan's Nikkei share average slipped to its lowest close in more than two months for the second day in a row on Friday, with Softbank Corp. tumbling 17 percent after it said it was in talks to invest in U.S. firm Sprint Nextel. But losses were capped by gains in exporters gained as news of the potentially huge deal helped weaken the yen.
LONDON, Oct 12- European stocks were set to open slightly lower on Friday as expectations for a weak earnings season and lingering uncertainty about Spain's debt crisis kept investors on the back foot after healthy gains in the previous session. Financial spreadbetters expected Britain's FTSE 100 to open 15 to 18 points lower, or as much as 0.3 percent.
Porsche indicated 0.6 pct lower, Volkswagen 0.1 pct lower. The holding company of German carmaker Porsche has received a fresh lawsuit from the family of a deceased industrialist, linked to its 2008 attempt to take over Volkswagen.
*Softbank shares down as much as 17 pct in Tokyo* Softbank and Sprint have confirmed in talks By Taro Fuse and Mari Saito.
TOKYO, Oct 12- Three large Japanese banks are considering providing 1.8 trillion yen in syndicated loans to Softbank Corp, allowing the Japanese mobile carrier to bid for Sprint Nextel Corp, sources with direct knowledge of the matter told Reuters on Friday.
TOKYO, Oct 12- Japanese wireless service provider Softbank Corp is in talks with three major Japanese banks to borrow $23 billion to finance a bid for U.S. operator Sprint Nextel Corp, sources with direct knowledge of the matter told Reuters on Friday.
*Softbank slumps 16 pct, in talks to invest in Sprint Nextel. dropping 16 percent after it said it was in talks to invest in U.S. firm Sprint Nextel.
*Softbank slumps 15.3 pct, in talks to invest in Sprint Nextel. said it was in talks to invest in U.S. firm Sprint Nextel.
TOKYO, Oct 12- Japan's Softbank Corp said on Friday it is in talks with Sprint Nextel Corp about investing in the U.S. telecoms firm, but nothing has been decided.
TOKYO, Oct 12- Shares of Softbank Corp were untraded with a glut of sell orders on Friday after Sprint Nextel said it was in talks with the Japanese firm on a "potential substantial investment" that could involve a change in control of the U.S. firm.
Financial Times Headlines BUMI SHARES LEAP AS BAKRIES PROPOSE SPLIT- CLARKE GETS ROLE AS TRADE' ROCKET BOOSTER'- GEITHNER HAS PHONE FRIEND AT BLACKROCK- AZERBAIJAN ATTACKS BP FOR MISSING TARGETS- COCA-COLA HELLENIC TO QUIT GREECE- SOFTBANK IN TALKS TO TAKE CONTROL OF SPRINT- SCHAUBLE AND LAGARDE CLASH OVER AUSTERITY- OIL GROUPS SET TO EXPORT US CRUDE- UK URGED TO LEARN CANADA BORROWING LESSONS- Overview BUMI SHARES LEAP AS BAKRIES PROPOSE SPLIT.
TOKYO, Oct 12- Japan's Nikkei average is likely to rebound on Friday from its lowest close in more than two months, but concerns over the quarterly earnings season means the benchmark is still on track for a fourth straight week of losses. Mobile operator Softbank Corp will be in focus as it looks to buy roughly 70 percent of U.S. Sprint Nextel Corp.
*Deal could lead to Sprint buying Clearwire- analysts. *Sprint, Clearwire soar in afternoon trade; MetroPCS down. The Japanese company might also be aiming to use Sprint as a vehicle to make a run at smaller Sprint peer MetroPCS Communications Inc, a two-step transaction that would potentially cost more than 2 trillion yen, according to a Nikkei report.