Nikkei advances as Softbank bounces back, lenders gain

Tue Oct 16, 2012 2:07am EDT

TOKYO, Oct 16 (Reuters) - Japan's Nikkei share average
climbed 1.4 percent on Tuesday as index heavyweight Softbank
Corp rallied after the company reassured investors a
$20 billion deal to buy 70 percent of Sprint Nextel Corp 
would not dilute their shares.
    Gains were also seen for the banks that will loan Softbank
funds for the deal.
    The Nikkei added 123.38 points to 8,701.31, while
the broader Topix advanced 1.3 percent to 732.40.
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