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Clearwire Seeking up to $5 Billion from Radio Spectrum Sale

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Note -- this news article is more than a year old.

USA based WiMAX network, Clearwire is reported to be close to raising between US$2.5 to USD5 billion by selling off some of its unused radio spectrum. The company is widely expected to need at least USD2 billion by the end of this year to fund its next wave of expansion early next year.

Citing unnamed sources, Bloomberg News reported that AT&T, Verizon Wireless, Deutsche Telekom's T-Mobile, Time Warner Cable and Clearwire's majority owner, Sprint Nextel are among potential buyers of the spectrum.

The company is selling up to 40 megahertz of spectrum per market, only a slice of its wireless capacity, one person told the business news agency.

Clearwire has also been in talks with other companies who could take a stake in the company, including rival network, T-Mobile and South Korea's SK Telecom. There has also been suggestions that some of the required funding could come from issuing fresh debt.

On the web: Bloomberg News

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Tags: clearwire  wireless  time warner