Intel Corp plans to sell up to 10 million shares of wireless service provider Clearwire Corp through its venture capital arm, Intel Capital.
The company said it will begin selling the shares in open transactions on the Nasdaq global market beginning Friday.
In a regulatory filing, Intel said the sale of the Class A common stock would not impact any contractual obligations or business arrangements between Intel and Clearwire.
Currently, Intel owns more than 102.4 million shares of Clearwire, or about 33 percent of the company’s total outstanding shares.
Clearwire, a wireless internet service provider, needs new funding for building a new network. Its majority owner is Sprint Nextel.