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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Clearwire eyes end to Sprint fight Reuters - Friday, February 18 Send IM Story Print By Sinead Carew NEW YORK - Clearwire Corp <CLWR.O> promised it would soon boost revenue "substantially" by ending a fight over the rates it charges to Sprint Nextel <S.N>, its biggest customer and investor. Shares in Clearwire, which is 54 percent owned by Sprint, rose 2 percent after the high-speed wireless service provider said it expects an imminent resolution to its wholesale rate dispute with Sprint, which rents network space from Clearwire. "That is excellent to hear," said Roe Equity Research analyst Kevin Roe. "Getting resolved is very important." Clearwire said it is still seeking new financing options including a spectrum sale or an equity investment to fund its network expansion. But the operator said it would not make a decision on funding until it has resolved the Sprint argument, which has been hurting its revenue in recent quarters. T-Mobile USA, a unit of Deutsche Telekom <DTEGn.DE>, is seen as the main bidder for the spectrum. Clearwire has also discussed the option for an equity investment from T-Mobile USA in exchange for a wholesale agreement with that company. Clearwire did not comment on specific talks during its conference call on Thursday but said it expects to make a decision about a spectrum sale in the second quarter. Clearwire said fourth-quarter revenue rose to $180.67 million from $79.9 million in the year ago quarter. Because of the dispute with Sprint, revenue was well below Wall Street estimates for $192.6 million, according to a poll by Thomson Reuters I/B/E/S. SETS MODEST PACE ON RETAIL In the meantime, Clearwire said it would set a "modest pace" for its retail growth efforts going forward in order to cut expenses. It will instead focus on aggressively expanding its wholesale business, which brings in less revenue but growing rapidly and is less expensive to operate. The comments about retail follow the company's announcement late last year that it would pull back on retail investments to save money. Last week Reuters reported that it would pull back further in retail. In the past Sprint had said that it disagreed with Clearwire's pursuit of a retail strategy, which was a drain on resources needed to build Clearwire's network, for which it needs billions of dollars more financing. But now, Clearwire Chief Executive Bill Morrow told analysts on the company's conference call that the relationship with Sprint is "healthy." After a wholesale agreement they will look into opportunities for joint network expansion efforts, he said. These could come from Sprint's planned upgrade to its own network, which it could use to also benefit Clearwire. The pair had a head start in offering services with the latest generation of high-speed technologies but they face tough new competition, particularly from market leader Verizon Wireless, which has kicked off its own high-speed service during the fourth quarter. Clearwire said it still added 1.5 million customers in the quarter compared with the average expectation for 1.4 million from four analysts contacted by Reuters. This included 126,000 retail customers and 1.42 million wholesale customers from clients such as Sprint, which depends on Clearwire's network for its high-speed services. Despite its cutbacks, the company said it still expects to double its customer base to 8.8 million by the end of 2011. It said it expects to expand its network to markets with a population of 130 million by the end of the year from the 119 million people its network currently covers. Clearwire's plan to spend less than $400 million on the expansion was much less than Roe had expected but in keeping with the company's need to conserve cash. "They've outlined a very prudent business plan for 2011," he said. "They don't have a choice." The company posted a loss of $128 million, or 81 cents per share compared with a loss of $98.7 million, or 55 cents per share in the same quarter the year before. In 2012, Clearwire aims to turn from a loss to positive earnings before interest, tax, depreciation and amortization. Its shares rose to $5.35 in late trade after closing down 3 percent at $5.21 on Nasdaq. Trading in the company's shares has been volatile due to uncertainty over its future. 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