Reuters: Global Markets: Clearwire shares rise on report Sprint deal is near

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Clearwire shares rise on report Sprint deal is near Dec 11th 2012, 18:03 NEW YORK | Tue Dec 11, 2012 1:03pm EST NEW YORK (Reuters) - Clearwire Corp (CLWR.O) shares rose 12.9 percent on Tuesday after a CNBC report that the wireless service provider's biggest shareholder, Sprint Nextel (S.N), was moving closer to a deal to buy the rest of the company. Citing unnamed people close to the situation, CNBC said Sprint was in active discussions to buy 49 percent of Clearwire and that a deal may be announced before year's end. Sprint wants a Clearwire deal in order to gain full ownership of its wireless spectrum and has been in continuing negotiations, but it is in no rush to finalize a deal, people familiar with the matter have told Reuters previously. While the timing of a deal is unclear, it had been planned for around the middle of next year, one of the people said. The people asked not to be named because the matter is not public. Sprint and Clearwire declined to comment. Clearwire, whose biggest customer is also Sprint, has been looking to raise new financing as it could run out of money by the end of the third quarter of 2013. CNBC reported that Sprint has been in talks with other Clearwire shareholders, which include Bright House, Intel Corp (INTC.O) and Comcast Corp (CMCSA.O) in recent days to buy their stock at about $3.00 per share, according to the story. The report said that Sprint's offer price for the 488 million shares that are held by the public remains unclear. According to the latest regulatory filings, Comcast has 6 percent of Clearwire's voting shares while Intel has 6.4 percent and Bright House has 0.6 percent. Clearwire shares rose 31 cents, or 12.9 percent, to $2.71 on Nasdaq after the report. (Reporting By Nadia Damouni and Sinead Carew in New York; Editing by Soyoung Kim, Maureen Bavdek and Nick Zieminski) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions