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merrill lynch

Clearwire to receive a “substantial” investment from Sprint

Last week we covered Merrill Lynch’s downgrade of Clearwire (NASDAQ: CLWR) in response to the lack of funding in the foreseeable future.  Michael Funk went so far as to suggest his target price for Clearwire was $.50 a share. Debt financing: “Clearwire can’t fill the funding gap with debt, in our view, as secured debt