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Softbank shares jump 10% after Son reassures on dilution

Published on Oct 16, 2012 10:21 AM
 

TOKYO (REUTERS) - Shares of Softbank Corp soared 10 per cent to 2,500 yen on Tuesday morning after CEO Masayoshi Son reassured investors that there would be no dilution of the company's shares after a US$20.1 billion (S$25 billion) deal to acquire about 70 per cent of Sprint Nextel Corp .

Softbank's shares had lost 21 per cent over the previous two sessions on rumours of the deal, which sources say the company will fund with loans from four major banks, and which some investors worried was too expensive.