Time Warner Cable plans to offload 7.8% stake in Clearwire

Time Warner Cable (TWC) is planning to sell its entire 7.8% stake in US WiMAX operator Clearwire, Bloomberg reports. The cable company has notified all other major Clearwire investors, including Sprint Nextel and Comcast. Interested parties will be given the option to buy part or all of the stake; New York-based cableco TWC’s disclosed its intention to offload the stake in a regulatory filing last Friday. In 2008 TWC agreed to acquire a stake in Clearwire to help fund the rollout of its WiMAX network, paying USD550 million for the shares, which Bloomberg notes were worth as little as USD71.5 million at the close of trading yesterday.