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Clearwire to use "Clear" brand instead of "Xohm"
NEW YORK |
NEW YORK (Reuters) - Clearwire Corp said on Monday that it would call its high-speed wireless WiMax service "Clear" instead of the "Xohm" brand its venture partner Sprint Nextel has been using.
The new name was announced after Clearwire closed its $14.5 billion venture with Sprint and other investors last Friday. Sprint is contributing wireless airwaves to the venture.
The venture, to be called Clearwire, also attracted $3.2 billion of investments from companies such as Time Warner Cable Inc and Comcast Corp as well as Intel Corp and Google Inc.
For the venture's first twenty days, it will trade under the CLWRD symbol before reverting back to its CLRW trading symbol, Clearwire said.
Clearwire shares were up 57 cents or more than 8 percent at $7.19 in morning trade on Nasdaq.
(Reporting by Sinead Carew; Editing by Derek Caney)
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