Softbank Raises Funds and 1 Hot Stock to Note

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A report in Reuters cites sources to reveal that Japanese wireless operator Softbank (SFTBF.PK) is seeking to raise financing of about $ 23 billion from a syndicate of banks said to include Mizuho (NYSE:MFG), Sumitomo Mitsui (NYSE:SMFG) and Mitsubishi UFJ (NYSE:MTU) for its proposed acquisition of US telecom company Sprint (NYSE:S). Analysts, and the markets, are apprehensive that the deal could saddle Softbank with very high levels of debt. Shares in Softbank sank 17% on news of the proposed acquisition.

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