Clearwire Drops 16% on Intel Plan to Sell 10 Million Shares
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Clearwire Corp., the provider of high-speed wireless service, tumbled the most in almost two years after Intel Corp. said it would sell up to 10 million shares of the company’s Class A stock.
The share sale “does not affect any contractual obligations or business arrangements between Intel and Clearwire,” Santa Clara, California-based Intel said in a regulatory filing made public yesterday.