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Sprint Skips Clearwire Investment Opportunity

Jan 3, 2011, 11:53 AM by Eric M. Zeman

Sprint has declined to exercise its rightful options to purchase debt from WiMax partner Clearwire, which is attempting to raise more capital. Clearwire announced in December plans to offer $1.1 billion in debt in order to gain the funding it needs to continue operations. The debt offering came after the company announced plans to release employees and slow down projects. Sprint is a majority owner of Clearwire, but didn't use this opportunity to invest more in its partner.

BusinessWeek / Bloomberg »

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Comments

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This forum is closed.

Slammer

Jan 3, 2011, 12:22 PM

Eventually, Sprint Will Buyout.

I have been told that Sprint tried to purchase Clearwire for $5 a share and Clearwire dismissed the offer. Then Craig Mcgaw takes a walk. Once Clearwire drops in market value, I suspect talks will resume again.

Ghuayu

The issues is not they want to purchase or not, it is Sprint has the capital to purchase it because they are getting whole a lot of customer but at the same time they are losing money... Don't you got too confuse what is it going on???

...

netboy