Clearwire freezes cash-raising spectrum sale
updated 07:40 am EDT, Thu May 5, 2011
Clearwire puts spectrum sale on hold
Clearwire has put its spectrum sale on hold. Interim CEO John Stanton explained to investors that the company would not need to sell off its excess spectrum to raise funds in 2011, although he did not rule out the sale beyond the end of this year. Clearwire is currently in the process of expanding its WiMAX network, and was in need of funds. However, Stanton argued that the $1 billion over two years that it has raised from its with Sprint Nextel would be sufficient in the short term. According to Fierce Wireless, the relationship that Clearwire has developed with Sprint is also expected to yield further dividends. Sprint is looking to modernize its network in and expand in rural and suburban areas where it will be likely to lean on Clearwire again, which will also add to its clash flow.
When asked about its LTE plans, which involve LightSquared, Stanton explained that its trials have gone well, but that it would only make a formal announcement when in conjunction with its wholesale partners.
