Sprint Plans to Buy Clearwire Stock

— December 14, 2012

Sprint Nextel Corporation filed a Schedule 13D with the Securities and Exchange Commission, in which it disclosed its intent to acquire shares of Clearwire Corporation's capital stock it does not already own.

Clearwire is currently in discussions with Sprint regarding a potential strategic transaction. A special committee of the Clearwire Board of Directors, previously formed to review potential indications or proposals, including from Sprint, has been reviewing the potential strategic transaction. On December 12, 2012, Sprint submitted a non-binding proposal that had been reviewed by its Board of Directors, which included a purchase price for the remaining shares of Class A common stock and Class B common stock (and related Clearwire Communications LLC units) of Clearwire it does not already own.


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