Sprint has indicated via filings with the Securities and Exchange Commission that it will cease operating its WiMax network by the close of 2015. The company had previously committed to running its first-generation 4G network through 2015 and it is making good on that promise. At one time Sprint’s WiMax network had about 17,000 sites […]
Sprint today announced that it has finalized its acquisition of the portion of Clearwire that it did not already own. The acquisition comes after a six-month battle with rival Dish Networks and Clearwire investors over control for the failed WiMax venture. Sprint how has control over the company’s assets, which include large 2.5GHz spectrum holdings. […]
SoftBank today said that it expects to close its equity acquisition of Sprint Nextel on Wednesday, July 10. The deal received approval from the Federal Communications Commission last week, and Sprint shareholders at the end of June. The deal now has all the approvals necessary to move forward. SoftBank first proposed the 70% equity acquisition […]
The Federal Communications Commission will allow for the acquisition of Sprint by Softbank, according to a report. Members of the Commission have apparently voted on the purchase with two out of three commissioners voting for the deal, and all but effectively completes the $21.6 billion deal between the two carriers. Sources of Bloomberg state that […]
SoftBank CEO Masayoshi Son expressed confidence today that the company’s proposed equity acquisition of Sprint will be finalized next month. The company recently upped its bid for Sprint, and competitor Dish did not repsond with a new offer of its own. Sprint’s shareholders are set to vote on the proposal June 25. The deal has […]
Sprint has raised its bid for Clearwire from $3.40 per share to $5.00 per share, besting Dish Network’s offer of $4.40 per share by 14%. Following the raised offer, Clearwire’s board of directors has accepted the new bid and recommends that Clearwire’s shareholders vote in favor of Sprint’s proposal and not Dish’s. In addition to […]
Dish Networks has given an update on its bid to acquire Sprint. According to Dish, Sprint’s recent legal actions have caused Dish to reevaluate its plans moving forward. It will drop its proposed acquisition of Sprint and will instead concentrate on acquiring Clearwire. “While Dish continues to see strategic value in a merger with Sprint, […]
Sprint has filed a lawsuit against Dish Networks and Clearwire in Delaware that aims to prevent Clearwire from acting on Dish’s tender offer for Clearwire. Last week, the special action committee evaluating Dish’s proposal for Clearwire recommended that the board accept Dish’s offer rather than Sprint’s. Sprint contends that Dish’s offer violates both Delaware law, […]
The special committee formed by Clearwire tasked with evaluating Dish Network’s tender offer is set to recommend that Clearwire accept Dish’s offer, reports the Wall Street Journal. The committee believes Clearwire’s full board should shun Sprint’s offer of $3.40 per share in favor of Dish’s offer of $4.40 per share, according to the sources “familiar […]
Sprint today submitted a letter to Clearwire’s board of directors in which it makes clear its intent to fight Dish Networks’ proposed acquisition of Clearwire. First, Sprint says Dish’s offer, which includes a contractual agreement to name three members to Clearwire’s board as well as veto certain Clearwire actions, violates Delaware law. Further, Dish’s proposal […]
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