Sprint Pays $100M To Raise Clearwire Stake Over 50%

Law360, New York (October 18, 2012, 12:17 PM EDT) -- Sprint Nextel Corp. will pay more than $100 million to lift its ownership stake in broadband Internet provider Clearwire Corp. past 50 percent, according to a regulatory filing made public Thursday, marking the second major deal for the company this week.

In the latest deal, Sprint's stake in Clearwire will settle at 50.8 percent after it finalizes its purchase of Class A shares and Class B interests held by Eagle River Holdings LLC, an investment vehicle controlled by Clearwire founder and cellphone industry magnate Craig McCaw,...
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