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News Summary: Sprint buying the rest of Clearwire

The Associated Press

ALL IN: Sprint Nextel is offering to buy 49 percent of Clearwire, a wireless network operator, for $2.1 billion. It already owns the rest.

BETTER CONNECTION? Sprint spun off part of itself to Clearwire in 2008 and in return took half of its shares. It hasn't been a very effective joint venture, since Clearwire lacks the money for network build-outs and upgrades. By buying Clearwire, Sprint could put the company's airwaves to better use.

MORE MAYBE: Shares of Clearwire traded above Sprint's offer on Thursday, indicating that investors believe a better offer is likely.