Clearwire Investor Demands Spectrum Sale in Letter to Stanton

A Clearwire investor asked interim Chief Executive Officer John Stanton to reexamine a sale of spectrum holdings to help boost the stock price and the wireless service provider’s value to an acquirer. A sale of the rights to wireless frequencies that carry voice and data signals will help establish a higher value for Clearwire’s assets and free up cash, New York-based Pardus Capital Management said in a letter to Stanton and the board. This month, Stanton ruled out selling the spectrum in 2011 after considering offers. Pardus said Sprint Nextel, which owns more than half of Clearwire, may be preventing sale of the spectrum to hold down the company’s stock price and make a buyout easier later.

“Clearwire manages its business in the best interests of all of the company’s shareholders,” Mike DiGioia, a spokesman for Clearwire, said. “We have received Pardus’ inquiry, however, it is against our policy for us to discuss shareholder interactions publicly.”