Clearwire Will Access $80 Million in Sprint Financing

Posted by at 11:43 am on February 28, 2013

Clearwire today indicated that it will tap into $80 million in financing made available by Sprint.

The $80 million option was put in place as part of Sprint’s plan to acquire the portion of Clearwire that it doesn’t already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to continue operations. Clearwire can tap into an $80 million round once per month between now and October. The move complicates a separate acquisition offer from Dish Network, which wants to buy all of Clearwire, including the portions owned by Sprint.

Dish indicated last month that it would likely withdraw its proposal if Clearwire accessed any of Sprint’s financing. Dish has yet to respond formally to Clearwire’s move.

Leave a Reply

Sign Up For Our Newsletter

Sign up to receive breaking news
as well as receive other site updates

Enter your Email


Preview | Powered by FeedBlitz

Log in

Copyright © 2008 - 2024 · StreetCorner Media , LLC· All Rights Reserved ·