Sprint Nextel Corp. said Wednesday it will combine its high-speed wireless business with Clearwire Corp. to build out the first national WiMax network.
Sprint will own about 51 percent of the new company, to be named Clearwire. Existing Clearwire shareholders will have about 27 percent and the investors as a group will hold about 22 percent.
The new company will deploy a nationwide WiMax network that will "dramatically enhance the speed and manner in which customers access all that the Internet has to offer at home, in the office and on the road," according to a joint statement.
Intel Corp., Comcast Corp., Time Warner Cable Inc., Google Inc. and Bright House Networks will invest 3.2 billion U.S. dollars in the venture, the companies said.
Source:Xinhua
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