Clearwire Said to Seek Up to $5 Billion in Spectrum Auction2010.10.13 09:34 by Daniela
Keywords: Clearwire, AT&T, Verizon
Clearwire Corp., the high-speed wireless carrier, is seeking to raise $2.5 billion to $5 billion in a wireless spectrum auction that has attracted telephone and cable companies, said people with direct knowledge of the sale.
AT&T Inc., Verizon Wireless, Deutsche Telekom AG, Time Warner Cable Inc. and Clearwire's majority owner, Sprint Nextel Corp., are among potential buyers of the spectrum, said the people, who declined to be identified because the process isn't public. The bidding is in its second round and is being managed by Deutsche Bank AG, they said.
Clearwire said last month it is looking for additional funds to fuel expansion, and has had discussions with a number of potential investors, including Deutsche Telekom's mobile-phone company, T-Mobile USA Inc. Clearwire will need about $2 billion by the fourth quarter to fund its network construction early next year, said John Hodulik, an analyst at UBS AG in New York.
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