Home WiMAX News Google Sells Stake in Clearwire

Google Sells Stake in Clearwire

In a Clearwire SEC filing it shows that Google has sold their 6.5% stake in Clearwire for just $47 million. Google purchased the stock back in 2008 for $500 million and they took quite a loss on the investment. This isn't good for Clearwire considering they just lost the entire cable industry as an investment after their recent marketing arrangement with Verizon. Only time will tell what's in store for Clearwire, but if they continue to lose investors their goal to launch 4G LTE by June 2013 could be difficult to reach.