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Wednesday Aug 20 2008
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The 6am cut - Alphaville by email
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Sprint, Clearwire to reveal $12bn JV
Sprint Nextel and Clearwire Corp are poised to announce a $12bn joint venture with major cable operators to offer services based on WiMax, an emerging technology that could make wireless Internet ubiquitous, reports Reuters. WiMax is expected to blanket entire cities with Web access for mobile devices at speeds up to five times faster than traditional wireless networks, but it is a largely unproven technology. Shares in regular and afterhours trading rose a total 10% for Sprint and as much as 23% for Clearwire, after sources said the long-awaited deal may be announced as soon as Wednesday morning or afternoon after US market close.
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We are wondering if the Nextel divestiture is also real, or if the Deutsche Telecom acquisition of Sprint is mere fantasy, and how the JV between Sprint and Clearwire might be affected by either. There have been rumors of the new chairman having to pull back on the WiMAX rollout, contradictory talks of Intel and Google supporting the rollout and/or the JV. How about a comprehensive summary?
Best Regards,
Michael