Bloomberg News

Clearwire Gains as CNBC Says Sprint Deal May Come by End of Year

December 11, 2012

Clearwire Corp. (CLWR:US) surged to the highest in almost two months after CNBC’s David Faber said the wireless high-speed Internet company is moving closer to a transaction with Sprint Nextel Corp.

Sprint has held talks with Clearwire’s major investors to buy their shares for $3 apiece, Faber said today. While an agreement isn’t imminent, it could come before the end of the year, he said.

Clearwire rose (CLWR:US) 12 percent to $2.68, the highest intraday price since Oct. 15, at 11:48 a.m. in New York. Sprint fell 0.8 percent to $5.62.

Acquiring Clearwire and its wireless airwave licenses would give Sprint more capacity to offer high-speed Internet for mobile-phone devices. Sprint is already Clearwire’s largest shareholder and its biggest customer, through a deal in which it leases Clearwire’s airwaves to serve its mobile-phone users.

Scott Sloat, a spokesman for Sprint declined to comment. Mike DiGioia, a Clearwire spokesman wasn’t immediately available for comment.

To contact the reporter on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net


Later, Baby
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus