Report: Verizon not interested in Clearwire spectrum sale
Verizon Wireless has denied reports from earlier this week that it was interested in buying wireless spectrum from rival Clearwire.
On Tuesday, a story by Bloomberg reported that Verizon – along with Time Warner Cable, Clearwire-majority owner Sprint Nextel and Deutsche Telekom – was a potential buyer of Clearwire's wireless spectrum. Bloomberg estimated that Clearwire would raise between $2.5 billion and $5 billion from the sale.
A spokeswoman for Verizon Wireless told Reuters that the company was not participating in Clearwire's auction.
Clearwire is seeking more funds in order to continue building out its 4G network that investors Time Warner Cable and Comcast re-brand and sell to their subscribers. Verizon is working on its own rollout of a 4G service.