John Stanton & The Stanton Family Trust acquired big chunk of Clearwire Corp. (Nasdaq: CLWR) stock on open market transactions from August 12th to August 16th. Immediately after these transactions Bloomberg released report where based on unnamed sources, Sprint (NYSE: S) is in talks with Clearwire’s other investors, including Comcast, about an investment plan in which it would purchase the equity stakes and essentially take control of Clearwire.
“In our view, Sprint is hedging its bets,” wrote Jamie Townsend with TownHall Investment Research in a research note on the news. “While we continue to believe that LightSquared will find a political/financial solution to its GPS problems, we also suspect that these new rumors of talks by Sprint are a reflection of efforts by the company to hedge its bets in case the LightSquared situation cannot be resolved.”
So far we’re banking from our CLWR entry on August at $1.82 with gain of over 65%.
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Clearwire is the pioneer in 4G and builder of the first 4G Network in the country.
The Clearwire 4G mobile broadband network now reaches 130 million people in the U.S. and covers over 70 of the top U.S. markets. Clearwire’s network expansion represents one of the fastest in history, and company’s 4G network is highly scalable and backed by a wealth of spectrum.
Recent projections estimate that global mobile data traffic will nearly double annually through 2015. Clearwire’s deep spectrum position enables long-term success in the high tonnage, video-enabled 4G world. Clearwire is one of the fastest growing companies in the wireless industry that serves over 4.4 million customers and expects that subscriber base to more than double in 2011.