Clearwire, Sprint Nextel to form $14.55 bn wireless company
Clearwire and Sprint Nextel say they are planning to combine their wireless broadband units to create a $14.55 billion (euro9.37 billion) communications company.
By Agencies |
KIRKLAND: Clearwire and Sprint Nextel say they are planning to combine their wireless broadband units to create a $14.55 billion (euro9.37 billion) communications company.
The new company will be named Clearwire and will receive a $3.2 billion (euro2.06 billion) investment from Intel Corp, Google Inc, Comcast Corp, Time Warner Cable Inc. and Brighthouse Networks.
Sprint Nextel Corp. will be majority owner with a 51 percent equity stake.
Clearwire, which will concentrate on rolling out a mobile WiMAX network, will also receive an investment from John Stanton-led Trilogy Equity Partners.
The deal announced in a joint statement Wednesday is expected to close during the fourth quarter.
The new company will be named Clearwire and will receive a $3.2 billion (euro2.06 billion) investment from Intel Corp, Google Inc, Comcast Corp, Time Warner Cable Inc. and Brighthouse Networks.
Sprint Nextel Corp. will be majority owner with a 51 percent equity stake.
Clearwire, which will concentrate on rolling out a mobile WiMAX network, will also receive an investment from John Stanton-led Trilogy Equity Partners.
The deal announced in a joint statement Wednesday is expected to close during the fourth quarter.
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