Softbank Raises Funds and 1 Hot Stock to Note
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.
Jeff Bezos, in an interview to the BBC, frankly confirms that Amazon (NASDAQ:AMZN) earns no margins to speak of on its Kindle tablet, and instead makes its money “when people use our devices” and purchase books, apps and films to view on the device.