Clearwire Surges as Sprint Says Pact May Last Beyond 2012

Clearwire Corp, the money-losing wireless broadband provider, surged 20 percent after partner Sprint Nextel Corp. said the two companies are negotiating to extend a network-sharing agreement beyond 2012.

Sprint may use Clearwire’s network to handle traffic from customers using Long-Term Evolution, or LTE, technology beginning in 2013, Sprint Chief Executive Officer Dan Hesse said on a conference call today. The talks are continuing, though a deal isn’t completed, he said.