Sprint seeks to expand high-speed wireless with Clearwire deal

Sprint seeks to expand high-speed wireless with Clearwire deal

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BPC Staff | Dec 17, 2012 | 4:45 pm |

<1 min read time

| 64 words | Innovation and Entrepreneurship

Clearwire Corp agreed to sell a roughly 50 percent stake for $2.2 billion to Sprint Nextel Corp.

Clearwire Corp agreed to sell a roughly 50 percent stake for $2.2 billion to Sprint Nextel Corp., which would then have full ownership of spectrum that will help it offer high-speed wireless services, Reuters reported. The $2.97-per-share deal is 7 cents per share higher than a bid many minority shareholders previously said was too low. Sprint already has majority ownership of Clearwire. Read more.