Google recently announced that it will sell its 6.5 percentstake in Clearwire, which amounts to $47 million, reports TechCrunch.
At $1.06 per share, the sum is a substantial reduction in the share price of Clearwire, which is currently $2.27. Google originally paid $500 for the stake back in 2008.
Clearwire offers a 4G WiMAX wireless broadband service in several large U.S. markets.
Google is also in the process of completing its acquisition of Motorola Mobility.
To read the full article, visit http://techcrunch.com/2012/02/24/so-much-for-that-google-to-offload-its-stake-in-clearwire-for-47m/