March 8 (Bloomberg) -- Credit Suisse Group AG bought Google Inc.’s stake in wireless-broadband provider Clearwire Corp., 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., Comcast Corp., Bright House Networks LLC and Time Warner Cable Inc.
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.
To contact the reporter on this story: Lee Spears in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Jennifer Sondag at email@example.com