Sprint: Clearwire Stake Doesn’t Amount to Control

Sprint Nextel Corp. said it doesn’t have control of Clearwire Corp. despite its majority stake in the spectrum-rich Washington company.

Overland Park-based Sprint (NYSE: S), which long has been Clearwire’s largest shareholder, increased its stake in the company from 48 percent to 50.8 percent, Sprint revealed in a Thursday filing with the Securities and Exchange Commission.

But the wireless carrier clarified Friday that this increased ownership doesn’t spell control.

“While we have a majority stake, we do not have control of the company, and their finances are not consolidated with Sprint’s,” spokeswoman Melinda Tiemeyer said. “They are an independent company with independent management and board. This is (the) same as when we previously owned more than 50 percent.”

Read more on Kansas City Business Journal.

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