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3XSQ: Japan's Softbank eyes Sprint for majority stake

Thursday, October 11, 2012 - 04:09

Oct 11 - Softbank is in talks to buy two-thirds of Sprint Nextel for $12.8 billion, but says reports about the talks were ''based on speculation.''

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Ahead of buyer emerges for sprint and a new reading on -- Spain is dealing with the debt crisis. Welcome to three Times Square this Thursday from Reuters world headquarters in New York. The US mobile phone market may have more international flair. A source tells Reuters Japan's third largest mobile phone carrier Softbank. Is in talks to buy a majority stake in sprint. German Deutsche Telekom already -- team on T-Mobile USA. The stopping Softbank -- deal could be worth nearly thirteen billion dollars Softbank saying reports that the talks are based on speculation. Sprint wasn't immediately available for comment sprint shares jumping on the reports New Year's Xbox. -- climbing jobless claims falling. Are Delhi did it today 339000. Weekly jobless claims dropping from nearly 370000. The prior week to their lowest level in more than four years. The four week moving average and continuing claims also declining. Spain's credit rating also declining as well but not in the way expected. Our Nigel Stephenson joins us from London I don't fill us in on the surprise and what it means. Very human kidneys and yes that BS and so now stand and -- are in line but Moody's the rating just above junk. There was little reaction on the bond markets this morning. The conundrum remains when will Spain officially seek a bailout economy minister today confirmed that Madrid is still considering whether to apply -- these. -- -- yesterday we talked about a company that was actually moving into Greece today the reverse accompany a big company moving -- -- right. This is a major kick in the teeth -- its biggest company Coca-Cola Hellenic is leaving the country moving to Switzerland and listing shares in London. Must be said that CC HU which Coca-Cola of the US has at 23%. Stake bottles Coke and other drinks and 28 countries from Russia to Nigeria. And about 95% of his business is actually outside of Greece. The company which golf -- -- net profit of 330 million euros on sales of six point 85 billion. That's also complained of high taxes imposed on the Greek government austerity measures. One analyst told us this morning this is a healthy company that does not want to suffer from Greece's high country risk so yes you've got the flip side that. Okay Nigel thanks so much. That's it sure is a lot of pop in the presidential election and our power players of the day drinking in the dollars. It's the cable TV companies who according to New York Post has seen ad revenue surged 67%. As the race tightens. Wells Fargo analyst upped her estimate for spending on cable TV political ads to 550. Million. From 467. Million. That's well above the 330. Expect in 2008 car while broadcast -- and are at roughly three billion. -- as high as roughly the same as 2008 while cable is gaining share. Which is welcome news for cable companies as viewers ponder whether to cut the cord entered the -- And finally -- want that we told you about a restaurant Italy that lets you bartered goods for food. Now one bookstore in Spain also finding ways to help its debt -- citizens. At the aptly named three bucks visitors can read her own their favorite titles at no cost. Or they can opt to become a regular patron at the suggested price of 10 a month. Donations of cake coffee or other books are well. Can. That's the latest -- Times Square this Thursday you can follow us on Twitter at Reuters Insider check apparently she's TV channel at Reuters dot com. Flash Reuters TV. I'm Lisa Bernhard this is.

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3XSQ: Japan's Softbank eyes Sprint for majority stake

Thursday, October 11, 2012 - 04:09