Despite a recent report that indicated Sprint Nextel's (NYSE:S) board is debating whether to allow T-Mobile USA to invest in Clearwire (NASDAQ:CLWR), ultimately Sprint does not have final say in the matter.
A report in the Wall Street Journal said Sprint's board is divided on the issue. However, while Sprint owns 54 percent of Clearwire's outstanding shares, and can appoint seven of the company's 13 board members, major decisions like allowing another strategic investor require the approval of 10 board members. So, in theory, while Sprint holds sway on Clearwire's board, it is not the ultimate authority.
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