Sprint is no longer the majority owner of Clearwire
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Sprint no longer has a majority stake in Clearwire, it announced on Monday. This now means its voting rights in the venture are increased and there is no risk of defaulting on its own debt. Late last year, Sprint invested hundreds of millions into Clearwire to help it out of debt and to build out its 4G LTE network.
"Now that our economic interest has fallen below 50 percent, we are reclaiming our full voting rights so that our voting rights and economic rights are once again aligned," said Sprint spokesperson Scott Sloat. »read more
More at: Electronista Add additional source
Filed in: Sprint