Tuesday, July 12, 2011

Clearwire Rallies On Renewed Takeover Chatter

Shares of Clearwire Corporation (NASDAQ: CLWR) rallied more than 3% Tuesday after investment firm Detwiler Fenton said that the wireless broadband provider could be a takeover target. Sprint owns 54% of Clearwire, which provides Sprint with its 4G cellphone service. There’s been much speculation of late over whether Sprint would continue its arrangement with Clearwire, or seek another option for 4G service. Clearwire will need billions in funding to complete the buildout of its wireless network nationwide. Stay tuned for more.

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