Sprint Nextel Corp (S.N) has held talks with cable partners about supporting their loss-making Clearwire Corp (CLWR.O) wireless venture in the face of increasing competition from bigger rivals, according to two people familiar with the matter. The shares of Clearwire, which is currently looking for about $900 million in funding, rose 30 percent after Bloomberg reported cable operators with a minority stake in Clearwire were in talks with Sprint -- Clearwire's majority owner and its biggest customer. But sources told Reuters any decisions about measures such as new funding would depend on the outcome of AT&T Inc's (T.N) efforts to create a much bigger rival by buying T-Mobile USA, according two people who spoke to Reuters on condition they would not be named because the talks were private. "It's clear that something will have to be done eventually, but nothing is imminent," said one of the people, who stressed the AT&T deal would be the catalyst rather than Clearwire's financial or operating struggles.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S traded higher by 1.0% or $0.035/share to $3.52. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 63508800 shares of S exchange hands on a given day and today's volume is recorded at 24939780.
Clearwire Corporation (Clearwire) is a provider of fourth generation (4G) wireless broadband services. Shares of CLWR traded higher by 30.09% or $0.695/share to $3.00. In the past year, the shares have traded as low as $1.32 and as high as $8.82. On average, 6630100 shares of CLWR exchange hands on a given day and today's volume is recorded at 20659416.
AT&T Inc. is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. Shares of T fell by 0.58% or $-0.165/share to $28.30. In the past year, the shares have traded as low as $26.20 and as high as $31.94. On average, 26900300 shares of T exchange hands on a given day and today's volume is recorded at 22481208.
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