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What: Shares of wireless network operator Clearwire
So what: TD-LTE, which stands for Time Division-Long Term Evolution, is being developed by China Mobile, and bears many similarities to regular 4G LTE that AT&T
Now what: Financial terms of the arrangement were not disclosed, but the announcement is still a positive indication that although Clearwire may be down, it's not out. The move is another sign of Clearwire's commitment to building LTE into its existing WiMAX network after betting a little too much on the latter. The company is still hanging on by a thread as it burns through massive amounts of cash. Clearwire only has $78.8 million in cash and equivalents left as of last quarter, down from $1.2 billion only six months prior. Today's news is good, but it still may be too little, too late.
Interested in more info on Clearwire? Add it to your watchlist by clicking here.
Fool contributor Evan Niu owns shares of AT&T, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of China Mobile. Motley Fool newsletter services have recommended buying shares of China Mobile and AT&T. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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