Feb 26 Clearwire Corp plans to tap
financing from Sprint Nextel, in a move that further
complicates Dish Network's effort to buy Clearwire, the
Wall Street Journal reported, citing people familiar with the
Dish made an offer of $3.30 per share for the wireless
broadband operator, which had already agreed to sell itself to
majority owner Sprint for $2.97 per share. A special committee
on the Clearwire board is reviewing the Dish offer.
Clearwire has the option to draw on $80 million of financing
from Sprint on March 1, part of an arrangement that would
gradually give Sprint a bigger stake in Clearwire.
Clearwire has already foregone the opportunity to draw $160
million in January and February. Dish has said it would withdraw
its offer if Clearwire took the financing.
One of the people familiar with the situation told the
Journal that Clearwire's draw of financing from Sprint Nextel
was not intended to dissuade Dish from pursuing the company.
Clearwire and Sprint declined to comment to Reuters. Dish
had no comment on the Journal report when contacted by Reuters.
Last week, Dish Network Chairman Charlie Ergen said the
company would consider partnering with Sprint in its pursuit of