Sporting goods leader Nike has signed a deal for a new credit line allowing it to borrow up to US$1bn, sparking off more rumours it could be planning to make a bid for smaller market player Puma.

The revolving credit agreement with lenders led by Bank of America takes the place of one providing for $750m of credit.

Nike has stressed it does not comment on market rumours.
The company's biggest rival in terms of market share, Adidas AG, took over number-three player Reebok earlier this year.