Sprint raising $2 billion, may throw some dough Clearwire's way

Sprint is looking to sell $2 billion in notes to raise cash, a large chunk of that likely earmarked for network upgrades. The money will come in handy too, as making the leap from WiMAX to LTE won't be cheap. Then, there's its partner Clearwire. After Sprint's board shot down a quest to snatch up MetroPCS, the carrier is even more reliant on the former WiMAX champion -- a company that just saw Google announce plans to dump its shares at a $450 million loss. According to Bloomberg, Sprint may take some of the $2 billion it plans to raise and use it to prop up Clear, which is making the transition to TD-LTE. At this point, we're beginning to think the carrier's cash infusions are the only thing keeping the wireless wholesaler going.

Sprint raising $2 billion, may throw some dough Clearwire's way originally appeared on Engadget on Tue, 28 Feb 2012 10:45:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/02/28/sprint-raising-2-billion-may-throw-some-dough-clearwires-way/

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