Sprint to inject USD1 billion into Clearwire

9 Nov 2009

According to a report by the Wall Street Journal, US cellco Sprint Nextel is preparing to invest at least USD1 billion in Clearwire as the WiMAX specialist prepares to take its network nationwide. The report added that fellow Clearwire investors, including Comcast, Intel, Time Warner Cable, and Bright House Networks, are preparing to pump a further USD500 million into the operator. Google Inc, which has been a key joint venture partner, is not involved in the latest financing round. The report said that an announcement regarding the new investment could come later in the week. Sprint’s CEO Dan Hesse said during a recent earnings call that the company would be supportive of funding Clearwire. As reported by CommsUpdate on 2 September 2009, Clearwire has contracted a number of equipment vendors, such as Huawei, Motorola, Samsung, Cisco, and DragonWave, for its nationwide rollout which will see the deployment of 20,000 WiMAX base stations to achieve nationwide coverage.