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Wednesday, February 27, 2013

Clearwire to take $80 million financing from Sprint, (NYSE: S)

Clearwire Corp said it will take $80 million in financing from Sprint Nextel Corp in the form of exchangeable notes. Wall Street Journal had reported that Clearwire plans to tap financing from Sprint, in a move that further complicates Dish Network's effort to purchase Clearwire, citing people familiar with the situation.

Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $5.78. In the past year, the shares have traded as low as $2.30 and as high as $6.04. On average, 38032600 shares of S exchange hands on a given day and today's volume is recorded at 1000.