Time Warner Cable to Sell Its Clearwire Stake
Time Warner Cable Inc. is planning to sell its entire 7.8 percent stake in struggling mobile-broadband provider Clearwire Corp.
The cable company notified other major Clearwire investors, which have an option to buy part or all of the stake, of the move and disclosed its intention in a regulatory filing Friday. Clearwire, which is intertwined with network partner and largest shareholder Sprint Nextel Corp., is overhauling its network and seeking partnerships or asset sales to raise cash.
