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Sprint Gains on $1.1 Billion Clearwire Debt Sale Plan

(Corrects size of debt sale in headline.)

Dec. 2 (Bloomberg) -- 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.

Link to Company News: {CLWR US <Equity> CN <GO>} Link to Company News:{S US <Equity> CN <GO>}

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

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