Sprint, Nextel shareholders approve deal

Shareholders of both Sprint and Nextel Communications yesterday voted overwhelmingly to approve the $35 billion merger of the two carriers. More than 70 percent of Nextel's shareholders agreed with the deal while more than 95 percent of Sprint's shareholders approved. The merger is expected to close in the third quarter this year pending regulatory approval. The merger of Sprint and Nextel will create the third-largest US wireless carrier, after Cingular Wireless and Verizon Wireless.

For more on the Sprint, Nextel merger:
- read this AP story