Sprint Nextel Confirms Merger Talks With Softbank Are Ongoing

The biggest story on the financial markets today has been the rumored merger between Sprint Nextel Corporation (NYSE:S) and the Japanese firm, Softbank. The news defined much of the traffic on stock exchanges in the early part of the day. Early this morning, before the markets opened, Softbank announced that they were in “advanced talks” with Sprint. As the price of shares in both Sprint Nextel Corporation (NYSE:S), and Clearwire Corporation (NASDAQ:CLWR) rocketed upward, we questioned the riskiness of investing in the hope of a deal. Sprint Nextel Corporation (NYSE:S) has now confirmed the talks, according to the New York Times’ Dealbook. According to…