Sprint cedes its majority stake in WiMAX carrier Clearwire

Sprint gave up its voting majority on the Clearwire board last year, but now it has given up its majority ownership in the 4G provider as well. By letting its stake fall below 50 percent, Sprint protects itself if Clearwire defaults on its debt.

Facebook gets a reality check on IPO day

Once protected by the hype bubble, Facebook is getting a hard lesson in the realities of the public markets. Despite the massive build-up to its IPO today, the market response has been more tepid than expected.

Clearwire closing in on the magic LTE investment number

Clearwire is raising another $52.5 million in its public offering. That’s hardly big money in the world of telecom finance, but it happens to be the exact amount Clearwire needs to reach its $400 million target, triggering an investment by Sprint and kickstarting its LTE rollout.

Clearwire hinges its LTE rollout on raising new public funds

Clearwire plans to issue new common stock worth $300 million, which would give it half the capital it needs for the first phase of its new LTE network. As for the other half, Clearwire is looking to primary owner and investor Sprint to chip in.