Clearwire signs network deal with Ericsson (Reuters)
NEW YORK (Reuters) – Clearwire Corp (CLWR.O) has chosen Ericsson (ERICb.ST) to verify over management of its high-speed wireless network, the assist bourgeois said on Wednesday.
Clearwire, which is majority-owned by Sprint Nextel (S.N), said that it would keep full control and strategic content of the meshwork low the seven-year agreement.
The care involves 700 Clearwire employees agitated to work with Ericsson, which already manages Sprint's network.
Both Clearwire and Sprint have been discussing the potential for Clearwire to use Sprint's wireless towers to expand its meshwork further. Clearwire did not divulge the cost of the Ericsson commendation or how it relates to the Sprint talks.
Clearwire shares were up 5 percent at $4.48 on the Nasdaq on weekday morning. Sprint shares were up 1.4 percent at $5.18 on the New York Stock Exchange.
(Reporting by Sinead Carew, redaction by Gospels Lewis)
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