Credit Suisse Said to Buy Google’s Stake in Clearwire Corp.
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Credit Suisse Group AG (CS) bought Google Inc. (GOOG)’s stake in wireless-broadband provider Clearwire Corp. (CLWR), said a person with knowledge of the matter, who declined to be named because the information is private.
In a regulatory filing this week, Google said it sold 29.4 million Clearwire shares for $2.26 each without identifying the buyer. The sale price valued the stock, Google’s entire 6.5 percent stake in Clearwire, at $66.5 million.
Google invested about $500 million in Bellevue, Washington- based Clearwire in 2008 as part of a $3.2 billion investment by a group of communications and technology firms including Sprint Nextel Corp. (S), Comcast Corp. (CMCSA), Bright House Networks LLC and Time Warner Cable Inc. (TWC)
Mountain View, California-based Google had planned to sell the shares at $1.60 each, according to a Feb. 24 regulatory filing. The Wall Street Journal reported earlier that Credit Suisse bought the stake.
Steven Vames, a spokesman for Credit Suisse, declined to comment. Jim Prosser, a spokesman for Google, didn’t immediately respond to a phone message seeking comment.
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