Clearwire Puts Spectrum Sale on Hold
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May 4, 2011, 8:36 PM by Eric M. Zeman
Clearwire indicated today during a phone call with investors that it has shelved plans to sell some of its spectrum in order to raise cash. "I view that the spectrum sale is something we don't have to consider in 2011," said Clearwire interim CEO John Stanton. The company had hoped to bring in much-needed funds through the sale of its spectrum, but now that it has struck a $1 billion wholesale agreement with Sprint, it doesn't need the cash so urgently. Under the terms of the agreement with Sprint, Clearwire should have enough funding to operate for another year. Stanton noted that the wholesale deal may also benefit Sprint down the road. Clearwire may be willing to let Sprint use the spectrum is has in more rural areas, which would allow Sprint to offer service to more customers. Last, Clearwire admitted that it is still testing Long Term Evolution, and is so far pleased with its tests. Tests will end by mid-2011, but Clearwire said no changes will be made to its broader network plans without its partners on board.
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