Sprint Nextel Reaches a Deal to Buy Rest of Clearwire [telecom]

BY MICHAEL J. DE LA MERCED

Sprint Nextel agreed Monday to buy all of the wireless network operator Clearwire, an important step for the cellphone service provider as it continues its big turnaround campaign.

Under the terms of the bid, Sprint will pay $2.97 a share for the nearly 50 percent stake in Clearwire that it did not already own for a total of about $2.2 billion.

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