Sprint has declined to invest an additional $760 million in Clearwire as they had the option to do and that Clearwire really needs to continue expanding their network. Game On. What will Clearwire do to salvage their company?
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technology.canoe.ca/2011 ··· 911.htmlSprint Nextel let a Jan. 2 deadline pass without exercising its right to buy $760 million US of Clearwire Corp convertible debt, ruling out that source of funding for Clearwire.
Sprint, which owns about 54% of Clearwire, confirmed Monday that it had opted to not exercise the right but Sprint spokeswoman Cristi Allen declined further comment.
Clearwire has said that other options for new funding could come from the sale of up to $2 billion of wireless spectrum or from an equity investment from a company such as Sprint or T-Mobile USA, a unit of Deutsche Telekom.