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Google Selling Its Entire Stake in Clearwire

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Feb 24, 2012, 8:06 AM   by Eric M. Zeman

According to documents filed with the Securities and Exchange Commission, Google is preparing to sell all the stock it has in Clearwire. Google spent $500 million on a 6.5% stake of the company back in 2008. Google is offering its shares at $1.60 (below the market value of $2.27). Google might recoup $47 million from the sale. Clearwire is majority owned by Sprint and has signaled that it needs more cash to continue its network transition from WiMax to LTE.

The Verge »

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Feb 24, 2012, 5:06 PM

Just goes to show....

How down the toilet Clear is going, and fast too.....Sad when a giant like google is willing to get rid of you (at a discounted price) just so they have nothing more to do with you.
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