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Shares of Clearwire Corp. jumped 92 cents, or 70.1 percent, to $2.22 on news of the Softbank talks. Sprint owns half of the company, and investors were betting that a deal with Softbank would include a buyout of Clearwire. The company operates a wireless broadband network that Sprint resells as “Sprint 4G.” Clearwire has struggled to become a viable standalone company, and it needs additional funding to upgrade its network.

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Associated Press writers Michelle Chapman and Barbara Ortutay contributed to this story.