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Sprint Nextel Assumes Control of Clearwire

Wireless carrier Sprint Nextel Corp said it has acquired a majority interest in Clearwire Co. by buying a stake from the company's founder.

A similar attempt by Sprint to take control of Clearwire last week was scuttled by a dispute with Intel and other investors.

Clearwire shares fell more than 8 percent as the new arrangement appears to have dashed hopes that Sprint would buy the company outright.

Source: Reuters. Read full article. (link)

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