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Sprint, Clearwire lay out deals on LTE, WiMax, funding

Stephen Lawson | Dec. 2, 2011
Sprint Nextel may help finance Clearwire's LTE network and keep offering WiMax service through 2015 under a set of agreements worth as much as US$1.6 billion that the companies laid out on Thursday.

Sprint CEO Dan Hesse welcomed the new set of arrangements.

"It provides Sprint improved pricing, allows us to continue to provide WiMax 4G services to our customers today and to new customers in the future and provides additional LTE capacity to help complement our Network Vision strategy and meet our customers' growing data demands," Hesse said in the companies' press release.

The companies also agreed on conditions for Sprint to make an equity investment in Clearwire. If Clearwire can raise new equity of between $400 million and $700 million, Sprint will participate in the funding by investing as much as $347 million, they said.

 

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