Clearwire To Get More Cash From Sprint, Comcast, Others |
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Tech Trader Daily —
Clearwire (CLWR) is going to get another $1.5 billion in capital from some of its key corporate investors, according to the Wall Street Journal , which cits “two people familiar with the matter.” The company needs the additional capital to build out its WiMax wireless broadband network. The Journal writes that Sprint (S) , already a majority investor in Clearwire, will plunk down another $1 billion, while a group that includes Comcast (CMCSA) , Intel (INTC) , Time Warner Cable (TWC) and Bright House Networks will throw in another $500 million. Previous investor Google (GOOG) isn’t supposed to be in this round. The same group invested $3.2 billion in Clearwire 18 months ago. In case you were wondering (I was): As of the end of September, according to a 10-Q filed last week , Sprint had about $5.9 billion in cash and short-term investments. In today’s trading: Clearwire is up 33 cents, or 5.1%, to $6.83. Sprint is up 20 cents, or 7%, to $3.05.
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