Sprint Nextel Jumps After Partner Clearwire Plans $1.1 Billion Debt Sale

(Corrects size of debt sale in headline.)

Sprint Nextel Corp., the third- largest U.S. mobile-phone provider, rose the most since July after partner Clearwire Corp. said it is planning a debt sale of as much as $1.1 billion to help fund operations.

Sprint, which is based in Overland Park, Kansas and owns 54 percent of Clearwire, added 21 cents to $3.98 at 9:32 a.m. in New York Stock Exchange composite trading. It earlier rose as much as 7 percent, the largest intraday gain since July 26.

Clearwire fell 12 cents, or 1.8 percent, to $6.70 in Nasdaq Stock Market trading.

To contact the reporter on this story: Gregory Bensinger in New York at gbensinger1@bloomberg.net

To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.