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Clearwire courting AT&T and Verizon in bid to raise cash for 4G LTE network

Clearwire is in discussions to sell sell some of its wireless network capacity to Verizon Wireless and AT&T, Bloomberg reported recently. “All those discussions are under way,” Clearwire CEO Erik Prusch told Bloomberg. “I’m confident we’ll bring in new wholesale partners. Our message to the industry is that we’ve got the capacity to handle their needs.” However, it is more likely Clearwire is approaching the carriers in an effort to raise cash for its 4G LTE network plans. On August 3rd, Clearwire announced its intentions to build out a nationwide 4G LTE network but said those plans were “subject to additional funding.” Clearwire needs $600 billion to build its 4G LTE network. “We want to be the Switzerland of mobile broadband,” Prusch said, noting that his company is talking to, and willing to work with, anyone who needs network capacity.” In mid-August reports surfaced that Sprint was in talks to buy Clearwire outright in order to build its own LTE network. We expect we could hear more on Sprint and its Clearwire plans during a “Strategy Update” event on October 7th in New York City, where BGR will be reporting live.