Sprint and Clearwire complete merger, together to create WiMax network (USA)
Clearwire, the US broadband provider, completes the merger with Sprint Nextel in order to construct a new wireless data network. The new firm will stick to the name Clearwire and will create a WiMAX-based network covering almost 140Mn potential customers. Sprint Nextel’s WiMAX network in the Baltimore region will come under the new merger along with the spectrum of the wireless and broadband operator. After the merger Sprint will hold 51% of the new venture, while Clearwire will take a 22% stake and the remainding stake of the company will be owned by investors which include Comcast, Intel, Time Warner and Google.
