• Most Popular
  • Most Shared

Sprint Nextel to invest more in Clearwire-WSJ

Sun Nov 8, 2009 8:37pm EST

Stocks

   

NEW YORK, Nov 8 (Reuters) - Sprint Nextel Corp (S.N). is preparing to pump at least $1 billion more into Clearwire Corp., the Wall Street Journal reported on Sunday, citing two people familiar with the matter.

Stocks  |  Mergers & Acquisitions  |  Private Capital  |  Telecommuncations Services

Sprint's joint venture partners on Clearwire, a group which includes Comcast Corp (CMCSA.O)., Intel Corp (INTC.O), Time Warner Cable Inc (TWC.N). and Bright House Networks LLC, are prepared to kick in another $500 million, the paper reported. It said that Google Inc, which has been a key joint venture partner, isn't involved in the latest financing round.

The paper said that an announcement of the new investment could come as soon as this week.

Sprint's CEO Dan Hesse said a recent during earnings call that the company would be supportive of funding Clearwire.

Sprint Nextel, Clearwire, Comcast, Bright House, Intel, Time Warner and Google were not immediately available for comment.

(Reporting by Megan Davies and Sinead Carew)

Stocks
Mergers & Acquisitions
Private Capital
Telecommuncations Services


More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

» More Top News
Chairman of the Federal Reserve Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington July 22, 2009. REUTERS/Kevin Lamarque
John Kemp:

The Fed needs a new storyline

It's irrelevant whether the Fed sells its assets back to the market. What matters is whether and when it's prepared to raise rates.  Commentary 

Economy
A worker drives a Toyota Motor Corp's newly assembled Prius hybrid vehicle onto a trailer near the company's plant in Toyota, central Japan February 9, 2010.REUTERS/Yuriko Nakao
Reuters Breakingviews:

Toyota's troubles in overdrive

The cost of Toyota's recall nightmare is nothing compared to the price of fixing its battered reputation.  Commentary 

Autos