Son's nose for an investment has turned Alibaba into a stake worth $50 billion as the Chinese e-commerce giant heads for the biggest U.S. tech IPO.» Read More
Oct 25- Sprint Nextel Corp posted a wider loss in the third quarter as it spent heavily on a network upgrade and lost customers from its iDen network, which it is shutting down.
SPRINTING AWAY: In the July to September period, Sprint Nextel Corp. lost subscribers for the first time in two and a half years. However, Sprint's network offers slower data downloads than the bigger rivals in most places. BOTTOM LINE: Sprint's loss widened to $767 million, or 26 cents per share.
HONG KONG-- World stock markets were lifted Tuesday by better data on the U.S. economy and a report showing improving investor confidence in Germany. In early European trading, Germany's DAX rose 0.6 percent to 7,308.01 and France's CAC 40 gained 0.5 percent to 3,426.48.
The unlikely success story of Softbank Corp. President Masayoshi Son has taken another leap with his latest mega-deal, announced Monday, to take a 70 percent stake in U.S. mobile phone carrier Sprint Nextel Corp. for $20 billion.
Japan's Nikkei 225 index rose 1.3 percent to 8,689.29 and South Korea's Kospi climbed 0.9 percent to 1,941.45. Benchmarks in Taiwan, Singapore, and New Zealand also rose. Toshiba Corp. jumped 2.7 percent and Sony Corp. rose 1.5 percent in Tokyo, where exporters were also aided by a slightly weaker yen.
Japan's Nikkei 225 index rose 0.9 percent to 8,658.82 and South Korea's Kospi climbed 0.4 percent to 1,932.78. Electronics company Toshiba Corp. rose 1.9 percent in Tokyo while Samsung Electronics Co. rose 1.7 percent in Seoul.
LONDON-- Upbeat signs from the world's two largest economies propped up markets Monday, at the start of a week that could offer greater clarity on the economic fates of Greece and Spain.
NEW YORK-- Shares of Clearwire jumped 12 percent in premarket trading Monday following news that the Japanese cell phone company Softbank Corp. is buying a majority stake in Sprint, which owns half of the company. Clearwire operates a wireless broadband network that Sprint resells as " Sprint 4 G."
LONDON-- A round of figures showing China's economy is in relatively good health helped buoy markets Monday, at the start of a week that could offer greater clarity on the economic fates of Greece and Spain. After a lackluster trading session in Asia, the news on China encouraged investors in Europe.
Japanese telecommunications firm Softbank and Sprint have reached a deal under which Softbank will pay $20 billion for a 70 percent stake in the wireless telecom operator, according to people close to the situation.
NEW YORK-- Shares of Clearwire Corp., which operates a wireless data network, hit a 52- week high after Japan's Softbank Corp. agreed to pay $20.1 billion for a 70 percent stake in Sprint Nextel Corp.. THE SPARK: Sprint owns 48 percent of Clearwire but doesn't control its board. It's also Clearwire's biggest customer, reselling access to its network as " Sprint 4 G."
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.
TOKYO, Oct 12- Softbank Corp chief Masayoshi Son told reporters last week he decided to buy a smaller rival for $1.84 billion on an impulse- small change for someone who Forbes estimates lost $18 billion in the dotcom bust, but an unusual move in staid Japan.
--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.