Printed from http://www.electronista.com

Sprint is no longer the majority owner of Clearwire

updated 01:16 pm EDT, Mon June 11, 2012

Sprint stake in Clearwire is reduced to just below 50 percent

Sprint no longer has a majority stake in Clearwire, it announced on Monday. This now means its voting rights in the venture are increased and there is no risk of defaulting on its own debt. Late last year, Sprint invested hundreds of millions into Clearwire to help it out of debt and to build out its 4G LTE network.

"Now that our economic interest has fallen below 50 percent, we are reclaiming our full voting rights so that our voting rights and economic rights are once again aligned," said Sprint spokesperson Scott Sloat.

The changes came after Clearwire recently issued equity, resulting it Sprint's stake in the 4G LTE broadband provider to fall to just under 50 percent. It's a way for Sprint to protect itself from owing money to suitors in case Clearwire goes to bankruptcy court.

Sprint is hoping to gain use of Clearwire's TD-LTE network this year.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Moshi iVisor AG and XT for iPad Air 2

Have you ever tried to put in a screen protector that relies on static to cling to the screen? How many bubbles and wrinkles does it h ...

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Thecus N2310 NAS

For every computer user, there comes a point of critical mass in data storage. When it hits, external hard drives, USB sticks and DVD ...

Advertisement

toggle

Most Commented

 
toggle

Popular News