Deutsche Telekom investors like the idea of selling its US mobile business much more than shareholders in the putative buyer, with shares in Japan’s Softbank down almost as much as those of the German telecoms group are up this morning.

As Telecoms correspondent Dan Thomas writes, weekend reports revived the prospect of a bid for T-Mobile USA by Sprint, which is 80 per cent owned by Softbank, although without coming to any conclusions about whether it would happen this time. Read more

Tech news from around the web:

Google is in talks with major record labels to expand its online music service and open an MP3 store that would compete with Apple and Amazon, the New York Times reports. The music store is expected to be linked to Google’s existing cloud service, Music Beta, which lets people back up their songs on remote servers and stream them to mobile phones and other devices. Read more

How do you say “Farmville” in Japanese?

Zynga, maker of the popular social game, wants to find out.

To do so, the San Francisco company is entering into a joint venture with Softbank to develop and distribute games in Japan. As part of the deal, Softbank is investing $150m in Zynga, and will help launch the new business unit, Zynga Japan, in Tokyo.

Details of the partnership are scarce, but it will be interesting to see how Zynga’s games go over in Japan, a difficult market for foreign companies to crack. The deal also brings social gaming, which originated in Asian markets, full circle.  Read more

Ustream, the internet live-video streaming service, has announced a $75m venture-capital roundled by Japan’s Softbank , primarily aimed at funding Asian expansion.

The Silicon Valley company said the second-round investment would help to fuel its growth in the US and Asia, specifically in Japan, China, Korea and India.

Giving individuals in China the ability to broadcast their thoughts live to the world sounds a risky business for any startup at present, but John Ham, chief executive, told me they would tread carefully. Read more