Sprint and Clearwire Close to WiMax Deal (S, CLWR)
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According to reports from TheStreet.com, Sprint (NYSE: S) and Clearwire (Nasdaq: CLWR) are close to announcing a WiMax deal, helped by $2 billion of funding from Intel (Nasdaq: INTC). The deal could be announced in the next few days. The website cited people close to the matter.
The deal would create a new company by combining Sprint's licenses in the 2.5-gigahertz wireless spectrum and Clearwire's spectrum.
A Sprint/Clearwire WiMax plan was scrapped in November of last year, as Sprint, without a CEO, didn't want to make any major moves.
Recently, new Sprint CEO Dan Hesse was quoted as saying "if we can't be different, we can't win", suggesting more aggressive moves from the company, which has been losing customers to AT&T and Verizon and has a lagging stock price.
The deal would create a new company by combining Sprint's licenses in the 2.5-gigahertz wireless spectrum and Clearwire's spectrum.
A Sprint/Clearwire WiMax plan was scrapped in November of last year, as Sprint, without a CEO, didn't want to make any major moves.
Recently, new Sprint CEO Dan Hesse was quoted as saying "if we can't be different, we can't win", suggesting more aggressive moves from the company, which has been losing customers to AT&T and Verizon and has a lagging stock price.
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