New York, NY -- (ReleaseWire) -- 04/04/2013 --Clearwire Corporation (NASDAQ:CLWR) proposed to provide Clearwire $240 million in financing through a convertible debt facility. The arrangement, described in a letter to Clearwire's board, is superior to the financing provided by Sprint Nextel Corporation and designed to free Clearwire to explore alternatives to Sprint's inadequate merger offer, Crest said. The Crest proposal is similarly structured as the Sprint financing with Clearwire but is more favorable to Clearwire and its minority shareholders.
Clearwire Corporation, through its subsidiaries, provides fourth generation (4G) wireless broadband services in the United States. The company builds and operates mobile broadband networks that offer high-speed mobile Internet and residential Internet access services, as well as supports fixed voice over Internet protocol services.
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Federal Home Loan Mortgage Corporation (OTC:FMCKJ) traded at $ 3.9 in the last session, which is +0.02 (0.52%). The stock has a Range of 3.85 - 4.18. The stock has a 52 week low and high of 0.42 - 4.18 respectively. The stock has a Market Cap of 931.20M. The stock traded a volume of 6.21M. The stock has a 30 day average volume of 5.64M.
Expectations that Fannie Mae and Freddie Mac will pay out on their preferred shares is "total fantasy," says Brian Gardner, senior vice president of Washington Research at KBW.
"The companies are not returning to their former status," Gardner said in an interview with TheStreet on Monday. A political change after the mid-term elections might change things two years from now, but the KBW analyst says there's broad consensus to wind the agencies down or replace them with something else.
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