Sprint reportedly in talks to buy out Clearwire2012-12-12 09:59 by DanielaTags: Sprint, Clearwire
Sprint Nextel is in negotiations to acquire the remainder of Clearwire, its 4G WiMax network partner, according to news reports. Sprint owns about 51 percent of Clearwire's stock and is the main wholesale customer of its national WiMax network. Clearwire was formed in 2008 through a joint venture between Sprint and a predecessor of Clearwire, with investments from Google and several cable operators. Still, in recent days Sprint has had significant conversations with a number of Clearwire's big shareholders, which include Bright House, Intel and Comcast, aimed at purchasing their stock at roughly $3.00 a share, according to people familiar with the conversations. Clearwire is in the middle of its own transition to 4G LTE and a move to push itself as a neutral wholeseller of wireless service. But its current 4G WiMax network has largely been sidelined, with Sprint only using the network for its prepaid service, having dropped Clearwire for its own 4G LTE network. Representatives from both Sprint and Clearwire declined to comment the rumors. Read more -here-
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