Tuesday, November 9, 2010

Sprint Doesn't Rule Out Further Clearwire Investment

Clearwire Corp's recent "going concern" notice does not mean that Sprint Nextel Corp and its other partners would not continue to fund the company, Sprint Chief Executive Office Dan Hesse. The filing with the Securities and Exchange Commission is required by law, and alerts investors to the fact that Clearwire, absent new funding, will run out of cash within 12 months.

Clearwire, which is 54 percent owned by Sprint, said on Thursday there was substantial doubt about its ability to continue as a going concern due to uncertainty over whether it could raise new funds.

Hesse didn't say specifically whether Sprint was now prepared to inject new funds, but he did note that Sprint has done so in the past.

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