Boston, MA, 07/05/2013 (nysepost) - The shares of Clearwire Corporation (NASDAQ:CLWR) remained steady at $5 with no change on trading session of 3rd July. The stock opened at $5.00 itself. Almost 9.55 million shares were traded in Wednesday’s trading session against the average volume of 21.45 million shares in last 90 trading sessions.
The United States ‘ regulators have approved the three way merger of SoftBank Corp. with Sprint Nextel Corp. (S) and Clearwire Corporation (NASDAQ:CLWR) . This deal signifies that number 3 wireless carriers of America, Sprint, would obtain a multi-billion of cash insertion from SoftBank of Japan as an element of the acquisition worth $21.6, providing the much needed capital to the company for building its wireless network distinguished with high speed. The Federal Communications Commission permitted the bid put forward by Sprint for buying out the remaining shares of Clearwire Corporation (NASDAQ:CLWR). Sprint already owns 50.8% (as on October 19, 2012) interest and is the majority shareholder in the company.
Clearwire Corporation (NASDAQ:CLWR) provides services in wireless broadband in fourth generation (4G). The company is involved with building and operating mobile broadband networks for next generation. It offers mobile Internet with high speed and services to access Internet from residence in countrywide. The 4G network for mobile broadband by the company gives connectivity everywhere in its area of coverage. The 4G mobile broadband network of Clearwire Corporation (NASDAQ:CLWR) functions on the Worldwide Interoperability of Microwave Access technology 802.16e standard (WiMAX). The Company had been providing its services in 88 markets in the United States by December 31, 2011 jacketing almost 134.2 million people. This figure includes a predicted 131.9 million individuals jacketed by the fourth generation mobile broadband networks in seventy one markets. The activity of sales was ceased by the company in seventeen markets on October 30, 2011. In all of these markets Clearwire Corporation (NASDAQ:CLWR) had presented the service of Clearwire branded Pre-4G.