Sprint Nextel (S) 3rd Largest Wireless Carrier To File For Bankruptcy?

  Sprint Nextel Corporation (NYSE:S) has seen a slide of almost 5% today after rumors continue to spread of the wireless operator’s of an eventual bankruptcy, if changes are not introduced within the next few years. The company has faced severe challenges in recent weeks. It is still without a competing fourth generation wireless product, the next generation in data transmission, that is already being offered by the company’s competitors. Sprint’s ability to provide the latest technology was hampered by a decision in February by the FCC to disallow partner Lightsquared Inc. to offer its product. Last week Sprint ended it’s…