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SoftBank to Buy 70% Stake in Sprint for $21B

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:34
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This is that you're Imus in the morning program on the Fox Business Network.

-- and good morning everyone -- -- we started telling you about last week is now official Japan's Softbank says it will buy a 70% stake.

In Sprint Nextel for about twenty billion dollars in what will be the biggest overseas purchased by a Japanese firm.

The all cash still -- transform Softbank into one of the world's largest Telecom companies with about ninety million subscribers.

And still provides sprint the third largest US wireless operator with an immediate cash infusion.

To help the compete better with bigger rivals in the lucrative US Smartphone market Softbank is Japan's third largest wireless company that companies say Dan has -- will stay on -- sprint CEO and sprint shares are trading higher.

In the premarket.

Speaking of markets let's see how they're doing here in the US we are seeing -- in the green across the board Dow futures -- up.

By 44 the S&P is up by about six to nasdaq's up almost seventeen.

In Europe that weekend data showing China's inflation fell giving the government more room to stimulate its slowing economy has investors optimistic.

You're seeing London up by about thirty to Paris is up.

About 4546.

There in Frankfurt's up about 57 let's -- a closer look now.

-- what's moving these European markets with Fiona -- part of market analyst at city index in London at -- -- government leaders from across the EU will gather in Brussels on Thursday.

For two days of negotiations about banking union is single EU budget the Greek financial program and the possible Spanish -- that we just heard our last gets complaint.

About how they never get anything done at these things should be just pick one topic to focus on at a time.

I can't because I get I did for kids that you didn't list the they deign to speak about is -- And this subjects they have a -- to get -- And it does feel like they're making slight progress -- really does perhaps one nights and covenant coverage wow.

Would be at Citi -- meaning that they do -- to discuss these things we.

Would be able to need to stay in the year at ten million a consent about an -- -- have dropped snap significantly.

But we still makes little -- -- -- Thank you need in an a year -- -- pay an area that's going to be a he's discussion -- -- I'm probably a big documents as well site notes and then to cover off in the coming days.

And -- -- another.

Issue in debate today is what the consequences would be if Greece were to leave the eurozone what's your take on that both for Greece and the Euro zone.

This is it a -- and I mean that the chances of an evening we think has food and from about 90% to retail land 60%.

I -- a course of unknown period of time.

Now that transcends -- this would have a contagion effect if if Greece decides to leave them we used need stopping well other countries thought they will the year that would be.

Weekend quite considerably and the chances of that it will -- for this reason Gemini specifically.

And making -- huge -- to remain chill that Greece stay online.

In that Iraq and that -- -- austerity package and that they stay weak in the year right now.

We'll wait and see out all plays out -- -- had -- at city index thanks Deanna.

And it's going to be -- very busy week for corporate earnings with results expected from twelve Dow components and 79 companies in the S&P 500.

Among those Citigroup is expected to report a profit of 96 cents a share on revenue of eighteen point 3:6 1000000000 dollars this morning.

Every down from the one dollar 23 on revenue up twenty point six billion the bank reported a year ago.

Meanwhile a new survey says the US economy was slowly accelerate next year while unemployment will climb back above 8%.

For the first half of two point thirteen but economists polled by the national association for business economics say the housing market.

Is recovering faster than expected the survey predicts gross domestic product will rise just one point 9% -- two point twelve.

And 3% by the fourth quarter of next year economists also expect the economy to at an average of 125000.

Jobs each month.

During the fourth quarter of this year down slightly from their may forecast of 190000.

Jobs.

Here's a look at commodities now oil and gold are both to the downside -- down by about twenty cents on 91 dollars a barrel.

Gold is down almost eleven bucks at 1748.

Announced and coming at this hour Imus is guests will be Geraldo Rivera of Fox News.

Now here's the Iron Man live on Fox Business giving you the -- across.

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