Wednesday, November 19, 2008

Clearwire Stockholders Approve Sprint WiMAX Deal

Clearwire's stockholders approved the planned combination with Sprint's mobile WiMAX business and the investment of $3.2 billion by Intel, Google, Comcast, Time Warner Cable, Bright House Networks and Trilogy Partners.

Clearwire's board of directors had unanimously recommended that stockholders vote in favor of the transaction.

In addition, Clearwire has secured consent to the transaction from a majority of the lenders under a Credit Agreement and expects to execute shortly an Amended and Restated Credit Agreement permitting the Transactions.

No further consents or approvals for the transactions are required. The company is continuing to work toward closing the transaction before year-end.


Post a Comment

See also