Sprint Gains on $1.1 Billion Clearwire Debt Sale Plan

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.

(Corrects size of debt sale in headline.)