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Sprint Reduces Voting Rights, But Not Equity, In Clearwire

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Jun 8, 2011, 10:45 AM   by Eric M. Zeman   @phonescooper

Sprint has shrunk its voting power in Clearwire from 53.7% to 49.8%. The move was made to alleviate investor concerns that its stake in Clearwire could eventually become a liability. "Sprint is proactively providing protection and flexibility with respect to its debt agreements and eliminating ongoing investor concerns about any potential cross-default risk," Scott Sloat, a spokesperson, said in a statement. The change in voting rights has no impact on Sprint's ownership stake in Clearwire nor its relationship with the WiMax provider.

more info at BusinessWeek »



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