Here’s What Happens When a Buyout Bet Goes Wrong

A lot of investors love trying to get ahead of a free ride. Well today Sprint (NYSE:S) issued a press release crushing the hopes of buyout gamblers who thought the telecom giant would buy 4G up-comer Clearwire (NASDAQ:CLWR):

Sprint continues to hold discussions with Clearwire regarding further investment in the company but has no plans at present to acquire Clearwire.

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Disclosure: No positions.