Time Warner starts Clearwire share sale
NEW YORK, Sept 27
NEW YORK, Sept 27 (Reuters) - Time Warner Cable Inc has begun a sale of its stake in Clearwire Corp, the wireless service provider said on Thursday.
Clearwire, which is majority owned by Sprint Nextel Corp , said that Time Warner is selling 46.4 million shares or 7.8 million of the company's total outstanding Class A common stock.
Time Warner said earlier this month that it would sell its stake in Clearwire.
Clearwire shares fell to $1.44 in late trading after closing at $1.48 on Nasdaq.