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. Sirius XM ( SIRI) shares gained 0.36% to reach $2.79. The satellite radio specialist was also one of the most active premarket Nasdaq stocks on share volume of 268,985. Apple ( AAPL), which is rumored to be planning the forthcoming launch of its iPad Mini, crept up 0.46% to $632.6. Ericsson ( ERIC) shares, however, slipped 0.91% to $8.67 before market open. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
During a conference call with analysts, satellite TV tycoon expounds upon possibility of a merger with T-Mobile or DirectTV, his pursuit of Sprint and Clearwire, and allegations of fraud in LightSquared bankruptcy.