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Monday, May 12, 2008 --- 87 days ago http://seekingalpha.com/article/76624-the-wimax-deal-is-a-disaster-how-google-go
| Erick Schonfeld submits: The more I learn about the $3.2 billion deal
announced earlier this week to salvage Clearwire’s and Sprint’s (S) WiMax
businesses by merging them together, the more I am convinced that
someone got snookered. And that someone was Google (GOOG) CEO Eric Schmidt.
Maybe he just can’t say “No” to visionary billionaires like Clearwire
(CLWR) chairman Craig McCaw. Or maybe McCaw got Intel (INTC) CEO Paul Otellini to
lean on his buddy Schmidt. Otellini himself pledged $1 billion of
Intel’s money towards the venture because he has made a big bet at
Intel on selling WiMax chips. He also happens to sit on Google’s board . I don’t know if any of the above happened or not.
What I do know is that Google came reluctantly to the table and that
for a long time the deal was being blocked internally at Google for
some very good reasons. The main reason is that WiMax, as Clearwire is
deploying it, is not a very good replacement for mobile broadband
services. It is, above all, a fixed wireless solution. What
it replaces is wired broadband services to homes and offices delivered
through cable and DSL. That is how Clearwire is selling it today. Complete Story »
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