Clearwire shareholders approve WiMAX spin-off

21 Nov 2008

Clearwire shareholders voted yesterday to approve the deal, first announced in May, that will merge the company’s WiMAX operations with the Xhom WiMAX unit of Sprint Nextel. The shareholder vote and regulatory approval mean the deal is on track to close before the end of the year. Clearwire and Sprint will be joined by five strategic investors — Intel Corp, Google, Comcast, Time Warner Cable and Bright House Networks — who have agreed to invest a total of USD3.2 billion into the new unit.