Asia This Day:Can SoftBank Save Sprint

As early as today,Monday,Japan's SoftBank,a telecom titan,is expected to announce a deal to purchase American counterpart Sprint Nextel.SoftBank will reportedly offer about 20 billion dollars for a 70% stake in Sprint.
Some analysts are sceptical SoftBank can reverse Sprint's decline.It has lost 7.5 million customers over the past five years.
The deal is unlikely to face official opposition.Indeed,regulators will probably welcome increased competition in a space currently dominated by AT and T and Verizon.
Moody's has downgraded Sony's credit rating to Baa.The rating agency has also reduced the Japanese electronics and entertainment firm's outlook to negative.
China's inflation is well in hand.According to this morning's report,consumer prices rose 1.9%,in line with estimates and below the government target rate of about 4%.Wholesale prices dropped for the eight straight month,down 3.36%.
Australian home loan approvals were up in August more than forecast,rising 1.68%.They had fallen in July.
Asian shares fell slightly in early Monday trading.The MSCI Asia-Pacific index was down 1.27% on concern about the Euro debt crisis.
Sprint Nextel(S),SoftBank(SFTBF)