Clearwire Gains as CNBC Says Sprint Deal May Come by End of Year
Sprint has held talks with Clearwire’s major investors to buy their shares for $3 apiece, Faber said today. While an agreement isn’t imminent, it could come before the end of the year, he said.
Clearwire rose 12 percent to $2.68, the highest intraday price since Oct. 15, at 11:48 a.m. in New York. Sprint fell 0.8 percent to $5.62.
Acquiring Clearwire and its wireless airwave licenses would give Sprint more capacity to offer high-speed Internet for mobile-phone devices. Sprint is already Clearwire’s largest shareholder and its biggest customer, through a deal in which it leases Clearwire’s airwaves to serve its mobile-phone users.
Scott Sloat, a spokesman for Sprint declined to comment. Mike DiGioia, a Clearwire spokesman wasn’t immediately available for comment.
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