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Updated from 11:54 a.m. EDT
Sprint Nextel (S Quote) and Clearwire (CLWR Quote) have finally reached a $14.5 billion deal that will combine their wireless broadband businesses in a new communications company.
The new company, which will be named Clearwire, will deploy the first nationwide mobile WiMax network, considered a fourth-generation wireless technology that features fast data transfers over long distances.
Shares of Sprint were recently flat on the day, after rising 32 cents, or 3.5%, to $9.51 earlier. Clearwire was also off its early highs, up 1.46%, to $16.70. ...
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