Clearwire Corp. (CLWR) pops to session highs on strong volume. Strength being attributed to a Bloomberg article that states Deutsche Telekom AG’s T-Mobile USA unit may be close to a deal to buy wireless spectrum from Clearwire Corporation. According to Bberg, T-Mobile USA, the fourth-largest mobile-phone operator in the U.S, is the only potential bidder and the sale of the spectrum could happen by the end of the first quarter.
T-Mobile said it may fund the spectrum purchase with proceeds from the sale of its U.S. telecommunications towers, valued at $2 billion by analysts.
Shares of CLWR are currently up 7.77% at $5.69. Volume of 3.6 million shares is already approaching the daily average volume of 4.4 million shares.
Clearwire Corporation, through its subsidiaries, builds and operates mobile broadband networks that provide high-speed residential and mobile Internet access services in the U.S. The co. is headquartered in Kirkland, Washington and operates as a subsidiary of Sprint HoldCo, LLC.