Clearwire set to take Sprint funding?

27 February 2013 |


Clearwire is reportedly expected to take financing from Sprint, potentially complicating Dish Network’s efforts to acquire the company.

The wireless carrier had previously agreed to sell itself to its majority owner, Sprint, for $2.97 per share, but is still reviewing Dish’s $3.30 counter offer.

Clearwire said earlier this month that it would require funding from Sprint to last the year.

As part of the Sprint deal, Clearwire has the option to draw on $80 million of financing from Sprint on March 1.

The company chose not to withdraw the same amount in January or February, forgoing $180 million.

People familiar with the matter told the Wall Street Journal that Clearwire’s draw of financing was not intended to dissuade Dish’s bid.