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Article updated: 12/17/2012 10:48 AM

Sprint raises offer, to buy Clearwire for $2.2B

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Sprint, the country's third-largest cellphone company, said Monday that it will buy out the portion of wireless network operator Clearwire that it doesn't already own after raising its offer price to $2.2 billion.

Bloomberg News

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Sprint, the country's third-largest cellphone company, said Monday that it will buy out the portion of wireless network operator Clearwire that it doesn't already own after raising its offer price to $2.2 billion. The deal would give Sprint control of a flailing affiliate, one it depends upon to provide high-speed "Sprint 4G" data services on some of its phones. It would increase Sprint's access to the airwaves, meaning it could boost data speeds in coming years. However, cell towers using Clearwire spectrum have poor range, meaning Sprint may struggle to provide broad coverage.
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