Rumor: Intel to Reunite Sprint and Clearwire With $2 Billion WiMax Infusion

A new report from TheStreet claims that Sprint and Clearwire could be reuniting thanks to a $2 billion investment from another WiMax champion, Intel. Before Sprint tore up the existing WiMax agreement it forged with Clearwire, the plan was to split the cost of building a nationwide network between the two companies.
That would have allowed eventual customers to easily roam between the two networks and, at the same time, lessen the financial burden on Sprint and Clearwire. It was a good plan given build out costs are expected to reach $5 billion.

Unfortunately, when Sprint lost its CEO and primary WiMax champion Gary Forsee last year, it lost Wall Street's confidence as well. In fact, the company has faced substantial backlash from investors who, even before the Sprint/Clearwire deal dissolved, felt that shelling out $2.75 billion (Sprint's half of the build-out cost) for a next-generation wireless network wasn't the best use of the company's money. The deal was eventually scrapped and Sprint would only say that the two companies couldn't agree to terms.

Intel, Sprint and Clearwire all said they wouldn't comment on the rumor, but Monday's article, as well as previous reports from the Wall Street Journal, claim that an announcement could be made as soon as this week.

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Posted by Dal on February 20, 2008 05:54 PM |
Posted to WiMax

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