Sprint No Longer Majority Owner of Clearwire
Sprint today indicated that, thanks to recent equity stakes sold by Clearwire, it no longer owns 54% of the company. Its ownership share has fallen to less than 50%. The change in ownership means Sprint will reclaim its voting rights, which it reduced last year to avoid the potential for a debt risk due to Clearwire's tenuous financial standpoint. Sprint has owned a majority stake of Clearwire for years, and has pumped several billion dollars into the company this year through bond sales.