Sprint Nextel inched closer to potentially providing funding to cash-strapped Clearwire in its latest debt offering.
The company said today that it plans to offer a private placement of debt due in 2018 and 2021. The uses include general expenses, network upgrades, and the repayment of existing debt. The most interesting, of course, is the potential funding of 4G WiMax provider Clearwire, which Sprint has so far been mum on.
"Securing the capital to fund those items while maintaining a solid cash balance in the case that Clearwire needs funding is important for Sprint's future," said Walter … Read more