NEW YORK ( TheStreet) -- Clearwire (CLWR) was a big gainer in premarket trading on Monday, rising 12.93% to $2.62, after key partner Sprint Nextel (S) announced its merger with Japanese telecom giant Softbank.
Clearwire was also the most active premarket Nasdaq stock on share volume of 3,514,868.
The Softbank/Sprint deal will see the Japanese firm acquire a 70% stake in the No. 3 U.S. telecom provider for $20.1 billion. Sprint shares rose 2.09% to $5.85 before market open on Monday.
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