The Times of London are reporting that Yahoo! is seeking to resume merger talks with AOL as a way of defending itself from Microsoft’s takeover bid. Previous talks broke off after disagreements about price, but the unwelcome takeover bid by Microsoft has spurred hopes of renewed negotiations. Yahoo says they are rejected Microsoft’s offer because they feel it undervalues the company and won’t consider it unless they are offered at least $12 billion more. A source close to Yahoo!’s thinking told The Times:

Sprint Nextel has announced that it will close 125 of its retail stores, eliminate over 4,000 3rd party distribution points, and cut 4,000 jobs. Company officials say they expect the cuts to be complete by June. The job cuts affect most departments, including sales, marketing, product and development, network, information technology, finance, human resources, legal more »