Google announced today that it will not be investing anymore money into Clearwire, and that the best thing it could do to help the WiMAX carrier is by cooperating on products and strategy. They said they still support their efforts to build a high-speed wireless network using WiMAX.
“We have already made a significant financial investment, and at this point we think the best way we can continue to add value is through continued product and strategic cooperation,” Google spokesman Andrew Pederson said in an email.
As of this posting, both Clearwire and Google stocks were up for the day.
Source: Reuters