Click to Skip Ad
Closing in...
  1. MyQ Smart Garage Door Opener
    11:06 Deals

    Unreal Prime Day deal gets you a MyQ smart garage opener and a $40 Amazon credit for $17

  2. Prime Day Deals 2021
    04:05 Deals

    Amazon Prime Day deals 2021: See hundreds of the best deals right here

  3. Amazon Dash Smart Shelf
    15:16 Deals

    I’m obsessed with this Amazon gadget you’ve never heard of – and it&#821…

  4. Amazon Gift Card Prime Day Deals
    07:58 Deals

    Free money is definitely Amazon’s hottest deal of Prime Day 2021

  5. Home Theater Projector Deals
    20:21 Deals

    Why buy a TV when Amazon’s Prime Day home theater projector deals start at $302?




Google to sell stake in Clearwire at a huge loss

Dan Graziano
February 24th, 2012 at 6:50 PM

Google on Friday filed documents with the U.S. Securities and Exchange Commission to sell its entire stake in Clearwire. The Mountain View-based company spent $500 million in 2008  to acquire a 6.5% stake in Clearwire, and now the search giant is now looking to sell its share for $47 million, less than a tenth of the original investment. Clearwire was the first company to roll out a 4G network in the U.S., however the WiMAX technology the network was built around failed to gain widespread adoption, with every major carrier instead deploying or looking to deploy 4G LTE service. Even Clearwire’s largest shareholder, Sprint, announced plans to launch a 4G LTE network in mid-2012. According to the SEC filing, Google will exit Clearwire in an effort to rebalance its investment portfolio. The sale is expected to close by the end of March.

[Via The Verge]

Read




Popular News