Sprint: Clearwire stake doesn’t amount to control

Sprint Nextel said it doesn’t have control of Clearwire despite its majority stake in the spectrum-rich Washington company. Sprint, which long has been Clearwire’s largest shareholder, increased its stake in the company from 48 percent to 50.8 percent, but clarified that this increased ownership doesn’t spell control.

“While we have a majority stake, we do not have control of the company, and their finances are not consolidated with Sprint’s,” spokeswoman Melinda Tiemeyer said. “They are an independent company with independent management and board. This is (the) same as when we previously owned more than 50 percent.” Sprint has tweaked its ownership stake in Clearwire over the years in efforts to detach itself from Clearwire’s debt and to avoid Clearwire being considered a legal subsidiary of Sprint.