Clearwire is urged to fight Sprint control, "distress" sale

11/1/2012 | Reuters · Wall Street Journal, The

A major Clearwire investor wants the wireless provider to fight any attempts by Sprint Nextel to take over the company and urged executives to sell excess spectrum to raise cash to fend off such a move. Mount Kellett Capital Management, which owns about 7.3% of Clearwire stock, wrote board members that shares were "substantially undervalued" and the company should not put itself in a position where its only option was a distress sale to Sprint.

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