UPDATE: Comcast (CMCSA) Stake Sale May Delay Clearwire (CLWR) Expansion Plans
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(Updated - October 2, 2012 4:50 PM EDT)
Comcast (Nasdaq: CMCSA) recently converted its holding in Clearwire (Nasdaq: CLWR) to commonly traded shares, possibly setting itself up to exit the stake. And, the move might put a red light on Clearwire's network expansion plans.
Comcast holds about a 6 percent stake in Clearwire.
In a regulatory filing, Clearwire said it may alter network plans to align better with revenue and "may elect to delay a portion of our deployment schedule accordingly."
Recently, Time Warner (NYSE: TWC) sold its position and Google (Nasdaq: GOOG) has done the same in the past.
Should Clearwire be able to reach a certain build-out point on its fourth-generation LTE network by the end of June 2013, it would be able to receive a payment from Sprint (NYSE: S), according to the filing. Any delays under consideration wouldn't affect getting full payments from Sprint.
Shares of Clearwire are down over 4 percent late Tuesday.
Comcast (Nasdaq: CMCSA) recently converted its holding in Clearwire (Nasdaq: CLWR) to commonly traded shares, possibly setting itself up to exit the stake. And, the move might put a red light on Clearwire's network expansion plans.
Comcast holds about a 6 percent stake in Clearwire.
In a regulatory filing, Clearwire said it may alter network plans to align better with revenue and "may elect to delay a portion of our deployment schedule accordingly."
Recently, Time Warner (NYSE: TWC) sold its position and Google (Nasdaq: GOOG) has done the same in the past.
Should Clearwire be able to reach a certain build-out point on its fourth-generation LTE network by the end of June 2013, it would be able to receive a payment from Sprint (NYSE: S), according to the filing. Any delays under consideration wouldn't affect getting full payments from Sprint.
Shares of Clearwire are down over 4 percent late Tuesday.
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