Clearwire Drops After Sprint Says No Takeover Planned

Clearwire Corp., the fourth- generation wireless carrier, declined to its lowest level in more than a year in Nasdaq Stock Market trading after partner Sprint Nextel Corp. said it has no plans to buy the company.

Clearwire has fallen 11 percent in the last two days, dropping to its lowest price since July 2009. The Kirkland, Washington-based company’s shares declined 36 cents, or 6.3 percent, to $5.34 at 4 p.m. New York time.

Sprint, which owns 54 percent of Clearwire, made its statement after the close of regular trading on Dec. 13.

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