Updated: Sprint confirms Softbank in talks to take control

Japanese operator Softbank is considering taking a majority stake in Sprint Nextel (NYSE:S), Sprint confirmed. The deal could be valued at around $12.8 billion, according to multiple reports. The reports, in the Wall Street Journal, Bloomberg and Reuters, all cited unnamed sources and said Softbank is looking to purchase at least a two-thirds stake in Sprint. According to the Journal and Reuters,...