Clearwire & Federal Home Loan Mortgage Trend Reports: (NASDAQ:CLWR), (OTC:FMCKJ)
Clearwire Corporation (NASDAQ:CLWR) proposed to provide Clearwire $240 million in financing through a convertible debt facility. The arrangement, described in a letter to Clearwire's board, is superior to the financing provided by Sprint Nextel Corporation and designed to free Clearwire to explore alternatives to Sprint's inadequate merger offer, Crest said. The Crest proposal is similarly structured as the Sprint financing with Clearwire but is more favorable to Clearwire and its minority shareholders.
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