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Clearwire Feels No Urgency to Raise Additional Funds for WiMAX Partnership

6:00 am on September 12, 2008 | Category: Business, Corporate, Internet, WiMAX

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Clearwire, which is embarking on a much-anticipated wireless broadband partnership with Sprint Nextel, feels no sense of urgency to tap capital markets for additional investment funds, the company’s Chief Financial Officer said at a recent investor conference.

As Clearwire’s nationwide network expands, it will likely sell debt instruments to raise additional funding, and supplement cash injected by Google, Intel, and other technology giants. The company is not planning to do this, however, until economic terms are more favourable, said CFO, John Butler, who also predicted that Clearwire and Sprint will gain regulatory approval for their WiMAX partnership by the end of this year.

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    Edited by Jeremy Maddock