Clearwire CFO: On Track for 4Q Closing of Deal With Sprint

NEW YORK -(Dow Jones)- Clearwire is still on track to close its deal with Sprint Nextel, according to Clearwire Chief Financial Officer John Butler.

In May, Clearwire unveiled a joint venture with Sprint, pooling together spectrum to create a nationwide provider of WiMax services, which is a long-range form of wireless Internet access. In addition, Clearwire tapped heavy hitters such as Google and Intel as investors.

Butler, speaking at an investor conference hosted by Jefferies Group, said he was pleased with the progress of the regulatory approval, except for an attempt by AT&T to throw a hurdle on the road with its objection.

Butler touted the company's spectrum position, which is fully devoted to WiMax. He said the larger carriers will struggle to roll out their fourth-generation wireless technologies without rededicating some of the spectrum already used for 2G and 3G services.

The spectrum position will allow Clearwire to deliver a faster connection with more capacity, Butler said.

"It's like a firehose versus a garden hose," he said.

Butler also said the company isn't feeling a sense of urgency to tap capital markets. The company would like to draw upon the debt market eventually, but only when terms are more favorable, he said.

-By Roger Cheng, Dow Jones Newswires; 201-938-2020; roger.cheng@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 9th September 2008