Comcast won’t be pumping more money into Clearwire, company CEO Mike Angelakis said at an investor conference this week.
The comments come as Clearwire searches for additional funding to help finance the aggressive deployment of its mobile broadband network, which is slated to cover up to 120 million people by the end of this year.
“We have no commitment to invest any further,” Angelakis said at the Goldman Sachs Communacopia XIX Conference. “I think that Clearwire has to figure this out.”
Comcast already owns about 9 percent of Clearwire. Angelakis said the company did not see “any strategic advantage” of increasing its stake to 10 percent or 11 percent.
Clearwire is looking to raise money by selling some of its spectrum or by landing another strategic investor, which could resell Clearwire’s 4G services under its own brand.
Reuters reports that Clearwire and T-Mobile are currently in talks over an investment deal, but no plans have been formally announced.
T-Mobile USA says its recently-upgraded HSPA+ network offers 4G speeds, but the carrier lacks the spectrum for true fourth-generation services. A deal with Clearwire would allow T-Mobile to offer 4G services without having to purchase spectrum and build out a network.