Clearwire shares fell sharply after Citibank's Michael Rollins downgraded the stock to sell with a $13 price target. The analyst expressed operational and financial concerns about the proposed merged entity. [1] . Concerns about the deal with Sprint and partners came about as Sprint/Nextel's affiliates said they would seek to block the deal. [2]
Sprint and Clearwire announced that they would be merging their WiMax mobile high speed data operations into a new company operated by Clearwire. Sprint retains 51% ownership in the new company. The deal is accompanied by cash investments from Comcast, Time Warner Cable, Intel and Google totaling $3.2B. Based on the ownership take associated with these investments, the new company is valued at roughly $14B. [1]
Clwarwire and Sprint resume talks of a partnership to build a WiMax network.
Clearwire shares plunged over 30% on news that Sprint and Clearwire are cancelling their partnership to build a joint WiMax network [1].
A Bear Stearns analyst downgraded Clearwire Corporation due to the risk involved in the company’s partnership with Sprint Nextel. The companies had entered a partnership to build a national WiMax mobile broadband network. However, Sprint is now facing some internal operational problems, which will have a negative impact on Clearwire.
Clearwire shares jumped over the course of two days (in the case of 9/7/2007, in a very bearish day for the market) on speculation that Sprint is in talks to purchase Clearwire [1].
ClearWire (CLWR) and Sprint (S) signed a roaming agreement to allow subscribers to access WiMax services across the two networks. CLWR shares jumped 40%+ on the news [1].
The announcement of a "double-play" distribution deal with DirectTV and Dish Networks lifted Clearwire shares 10% [1].
