In a regulatory filing this week, Google said it sold 29.4 million Clearwire shares for $2.26 each without identifying the buyer. The sale price valued the stock, Google’s entire 6.5 percent stake in Clearwire, at $66.5 million.
Google invested about $500 million in Bellevue, Washington- based Clearwire in 2008 as part of a $3.2 billion investment by a group of communications and technology firms including Sprint Nextel Corp. (S), Comcast Corp. (CMCSA), Bright House Networks LLC and Time Warner Cable Inc. (TWC)
The announcement by Google was made earlier. Thus ends the hope of Google becoming a Wireless ISP, unless the Fiber its building in Kansas and Stanford grows into something bigger.
- Credit Suisse Snaps Up Google’s Clearwire Stake (blogs.wsj.com)