Sprint Nextel Corp. is reportedly talking with cable companies about a possible acquisition of Clearwire Corp., according to a Bloomberg story that cited three sources familiar with the situation.
Earlier this summer Clearwire announced their decision to light up a 4G LTE network, and that they were looking for $600 million in additional funding to secure their position in this project. According to Bloomberg’s sources, Bright House, Comcast, Time Warner and Sprint are currently working to get Clearwire the necessary funds it needs to build their LTE network.
Both Sprint and Comcast are already investors in Clearwire, along with Time Warner. If such an acquisition goes through, Sprint would have a stronger opportunity to compete with AT&T and Verizon Wireless — the two top wireless providers that keep Sprint in third place.
Bill White, a spokesman for Sprint, said the company doesn’t comment on rumors or speculation. The other companies declined to comment as well.
Related Links:
http://tinyurl.com/3buc7p5 (Bloomberg)
Photo by flickr user TheDarkThing, used under Creative Commons license
