Is Sprint's Fate Linked to Clearwire?

Clearwire has issued a "going concern" warning in its latest 10Q report to the Securities and Exchange Commission, saying it could run out of money by mid-year 2011 if it does not secure a large infusion of new capital, estimated to be in the couple of billion dollars range.

It seems unlikely Clearwire would fail to secure such funding, though it seems to have proven unusually difficult so far.

The unknown is whether Clearwire's potential troubles might also lead to changes at Sprint Nextel, which owns 54 percent of Clearwire. In principle, even a dramatic change of ownership at Clearwire would not directly lead to changes at Sprint Nextel.

But it appears there is some level of interest by offshore buyers in Sprint Nextel. Some speculate a combination deal to buy Sprint Nextel and Clearwire would make sense for both companies.

Clearwire Says It May Not Make It - 24/7 Wall St.