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Clearwire, Sprint Complete Merger

Ray Le Maistre
LR Mobile News Analysis
Ray Le Maistre, Editor-in-Chief

A few days earlier than expected, Clearwire LLC (Nasdaq: CLWR) and Sprint Corp. (NYSE: S) have "completed the transaction to combine their next-generation wireless Internet businesses."

Clearwire's shareholders approved the deal last week, leading analysts to believe the deal would be completed on Dec. 1. (See I Can See Clearwire Now.)

But the transaction is already complete, and Sprint has handed over its "2.5 GHz spectrum and its WiMax-related assets, including its XOHM business, to Clearwire," the two companies announced today.

Clearwire also noted that it has received a $3.2 billion cash injection from Comcast Corp. (Nasdaq: CMCSA, CMCSK), Intel Corp. (Nasdaq: INTC), Time Warner Cable Inc. (NYSE: TWC), Google (Nasdaq: GOOG), and Bright House Networks , as originally agreed upon in May this year. (See Sprint, Clearwire Create $14.5B WiMax Giant.)

The news gave Clearwire's stock a near 10 percent hike Friday as it finished a shortened trading session up $0.60 at $6.62.

Sprint's stock also benefited, rising $0.29, or 11.6 percent, to $2.79.

Clearwire says it will hold a conference call for analysts and the media on Monday, Dec. 1, at 10 a.m. ET (7 a.m. PT) to "share its perspective and provide other details about the new company."

— Ray Le Maistre, International News Editor, Light Reading

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12/5/2012 | 3:26:01 PM
re: Clearwire, Sprint Complete Merger
Cash changing hands in this environment? Impossible! Especially at the agreed on price with no haircut. The consortium must really think WiMax is going to destroy 3G, and soon.
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