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U.S. Morning Call: Softbank in talks to buy Sprint majority

Thursday, October 11, 2012 - 03:48

Oct 11 - Japanese mobile carrier Softbank is in talks to buy more than two-thirds of U.S.-based telecoms company Sprint Nextel for at least $12.8 billion.

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Split second play and Spain's -- deepens with the ratings cut here's your morning call for Thursday. Japan's Softbank is in talks to buy a majority aspirations for more than twelve point eight billion dollars sources told Reuters. A -- bank's spokeswoman said the company had no immediate comment. Softbank is Japan's third largest mobile carrier sprint deal would make it cheaper for Softbank to procure Smartphones and other mobile devices. We'll bring you more as the story unfolds. Last week's -- I counter bid for MetroPCS. After Deutsche Telekom offered to by the prepaid wireless carrier that it may still be in the works. Shares of -- seeing a nice boost in premarket the company is valued at fifteen point one billion at Wednesday's close. Shares of Softbank also up over 2% on the Tokyo Stock Exchange. Standard and of course reduce Spain's rating to near -- today pushing the country one step closer to asking for aid. Spain's borrowing costs soared following the announcement. This comes just as finance ministers from around the globe gathered Tokyo for world bank and IMF meetings. IMF chief Christine Lagarde cutting some slack to the debt ridden nations saying Greece and Spain should be given more time to cut their deficits. Meanwhile in the US stock futures point to a slightly higher open for Wall Street. Investors gearing up to hear from Joseph Biden and budget -- Paul Ryan in the one and only vice presidential debate of the season which takes place in Danville Kentucky. Shares of China's Lenovo up 2% on the Hong Kong's stock exchange after -- PHP to become the number one PC maker in the third quarter. Data from researcher Gartner shows that Lenovo grew its market share to fifteen point 7%. Compared to HP's fifteen point 5%. Another research firm IDC still -- eight. Agree though that new CEO Meg Whitman struggled to -- HP has been working on the company's sales. Even Elena bomb might be winning that PC war it's still losing in the bigger picture. Analysts say global PC shipments fell over 8% in the third quarter to 87 point five million the steepest decline since 2001. Ever stopped to watch safe -- quarterly profit expected to increase from a year ago. Investors will want to note the company's advertising push and you loyalty program helped out. Winnebago likely going places with its quarterly results the RV maker expected to report a rise in profit on high demand for totals. Also keep an eye -- shares of JPMorgan. The company's CFO Doug brought to -- expected to step down and take another position with the bank. The move would be the latest executive -- since the firms suffered a six billion dollar derivatives loss. JPMorgan set to report third quarter earnings tomorrow. Black Sony KKR. In -- at least that's what some shareholders -- purchased by the buyout firms alleged a lawsuit. According to court documents emails exchanged between blacks and president Tony James and KKR co-founder George Roberts. Indicate to plotted to scoop up companies on the cheap. One particularly to an email exchange saying quote. Together we can be unstoppable but opposition. To each other a lot of money. And that's not all shareholders in more than two dozen companies have a handful of other firms. Including TPG capital Carlyle group and -- -- old firm Bain Capital claiming billions of dollars in losses due to conspiracy around takeovers. Edit your morning call for Thursday follow us on Twitter at Reuters Insider in check out our energy team channel at Reuters dot com slash writers TV. I'm Lisa Bernhard this is Reuters.

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U.S. Morning Call: Softbank in talks to buy Sprint majority

Thursday, October 11, 2012 - 03:48