Clearwire considering interest payment default as Sprint deal looms

NEW YORK/SAN FRANCISCO (Reuters) - Clearwire Corp is "actively considering" defaulting on a $255 million interest payment due June 1 on about $4.5 billion of outstanding debt, according to a proxy filing on Friday, as a shareholder vote approaches on Sprint-Nextel Corp's takeover offer. The company, which urged investors to vote in favor of Sprint's buyout offer, warned that failure to close a deal may force it to contemplate a financial restructuring, which in turn could entail filing for bankruptcy. ...



via Tech News Headlines - Yahoo! News http://news.yahoo.com/clearwire-considering-interest-payment-default-sprint-deal-looms-002540306--sector.html