Time Warner Cable sells shares in Clearwire

News Broadband United States 18 SEP 2012
Time Warner Cable sells shares in Clearwire
Time Warner Cable (TWC) announced the sale of its 46.4 million shares of Clearwire, according to a SEC filing. This is equal to a 7.8 percent stake in the company. Time Warner Cable acquired a stake in Clearwire in 2008 for USD 550 million, to help fund the roll-out of Clearwire's Wimax network. The joint venture with Sprint and other investors has struggled to gain subscribers, prompting Time Warner Cable to switch to reselling Verizon Wireless services this year.

Categories:

Internet,  Mobile

Companies:

Clearwire,  Time Warner Cable,  Verizon

Countries:

United States

Tags:

Shareholders & subsidiaries, Wireless, Wholesale, Wimax, Corporate strategy, M&A buyouts & divestments

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