Google Offloads Clearwire Stake For $1.47 Million

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[Techtaffy Newsdesk]

Google says it intends to sell up to 29,411,765 shares of Class A Common Stock of Clearwire at $1.60 per share in a cash transaction, in about a roughly $47 million deal. The search giant had sent out letters earlier this month, outlining its intentions, as per Section 5(a) of the Strategic Investor Agreement, dated November 28, 2008 which Google entered in. A SEC filing for Clearwire lists the letter.

Strategic investors in Clearwire include Intel Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks.