Intel Discloses Intention To Sell Up To 10 Million Clearwire Shares

Intel said in an SEC filing this afternoon that it plans to sell up 10 million shares of Clearwire in the open market, starting May 13.

The chips company holds 102.4 million shares Clearwire, about a 32.8% stake.

“Intel periodically rebalances its equity portfolio based on Intel’s goals, the performance of stocks in its portfolio and its evaluation of market conditions,” the company said in the filing. “WiMAX continues to be strategically important to Intel,” and the stock sales “[do] not affect any contractual obligations or business arrangements between Intel and Clearwire.”

CLWR in late trading is down 21 cents, or 4.4%, to $4.52.