Clearwire Has 4Q Loss; Reviewing Spectrum Offers |
| Wall Street Journal - Feb 18, 2011 |
Clearwire Corp. (CLWR) said it is weighing multiple offers for its wireless spectrum, but doesn't expect to make a decision until the second quarter, as the company attempts to firm up its financial footing.
Clearwire is looking to sell some of its unused spectrum to shore up its balance sheet, a major concern as the company continues to burn through cash. It posted a wider fourth-quarter loss on Thursday despite a surge in customers. Despite a debt offering in December, the company said it had enough funds to last through the middle of this year.
Clearwire said it has received bids from multiple interested parties seeking a varying amount of spectrum, adding that some of the parties expressed interest in exploring other strategic transactions. The company is evaluating the offers, and said it is delaying the conclusion until the second quarter.
Chief Executive Bill Morrow said he has a strong preference to secure an additional strategic investment.
Read Full Article from Wall Street Journal
- Posted: 2011-02-17 22:54:48
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