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Sprint and Clearwire to merge for internet, funding from Intel, Google, Comcast, TWC

BigMike

BrokenbikeMike
Jul 29, 2003
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Montgomery county MD
Sprint Nextel Corp. (S) and Clearwire Corp. (CLWR) Wednesday said they will merge their next-generation wireless broadband businesses to form a new wireless communications company.

The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide high-speed mobile WiMAX network.

Intel Corp. (INTC), Google Inc. (GOOG), Comcast Corp. (CMCSK), Time Warner Cable Inc. (TWC) and Bright House Networks will collectively invest $3.2 billion in the new company, based on a target price of $20 a share of Clearwire's common stock, subject to a post-closing adjustment.
This.....should be interesting!


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