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UPDATE 1- Japan's Softbank in talks for $12.8 bln Sprint stake - media

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TOKYO, Oct 11 (Reuters) - Japanese mobile carrier SoftbankCorp is in talks to buy more than two-thirds ofU.S.-based telecoms company Sprint Nextel Corp , publicbroadcaster NHK said on Thursday, in a deal worth at least 1trillion yen ($12.8 billion).

Softbank, which is valued at just over $40 billion,announced earlier this month it would buy smaller rival eAccessLtd in a $1.84 billion deal as Japan's third-largestmobile carrier steps up its battle for market share with rivalKDDI Corp .

Japanese media said a Sprint deal would make it cheaper forSoftbank to procure smartphones and other mobile devices.

(Editing by and Ian Geoghegan)

((ian.geoghegan@thomsonreuters.com; Reuters Messaging:ian.geoghegan.thomsonreuters.com@reuters.net))

Keywords: SPRINT SOFTBANK/