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Sprint Nextel secures controlling stake in Clearwire

December 18, 2012

Sprint Nextel offered $2.97 per share – 7 Cent more than before - or a total of $2.2 bn to take majority control of internet services company Clearwire. Sprint already owns slightly more than half of Clearwire. The deal gives full ownership of spectrum that will help it offer highspeed wireless services. Clearwire shares tumbled more than 12%.