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Sprint Nextel bids for majority stake in wireless firm Clearwire

AP
October 20, 2012, 12:06 am TWN

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NEW YORK -- Flush with the promise of cash from a Japanese investor, Sprint Nextel Corp. on Thursday said that it wants to buy out the founder of Clearwire Corp. to gain majority control of the wireless network operator.

Sprint said in a regulatory filing that it will pay wireless pioneer Craig McCaw and his holding company US$100 million for a stake in Clearwire, pushing Sprint's voting stake in the Bellevue, Washington, company from 48.15 percent to 50.45 percent.

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