Clearwire Sheds Irish Biz
9:30 AM -- Clearwire LLC (Nasdaq: CLWR) has offloaded its business in Ireland to Imagine Communications Group , which has acquired the WiMax operations for an undisclosed sum. The transaction will see Cleawire take a minority stake in the company and have a representative on Imagine's board. (See Clearwire Sells Irish Assets.)
Officially, the companies did not disclose any financial details related to the deal. But the size of Clearwire's stake in Imagine is reportedly 7 percent, according to a report last week in Ireland's The Sunday Business Post.
Clearwire recently launched a mobile WiMax service in Malaga, Spain, and has a smattering of other European assets with 3.5GHz spectrum licenses in Belgium, Germany, Poland, Romania, and Denmark (through an affiliate). But as Clearwire focuses on building out its mobile WiMax network in the US, is this deal with Ireland's Imagine likely to be the first of many disposals for the company in Europe? (See Clearwire Takes WiMax to Spain and Clearwire Launches on the Costa del Sol.)
— Michelle Donegan, European Editor, Light Reading Mobile