Crest Financial, an investment firm that owns about 8% of Clearwire, plans to ask the Federal Communications Commission to prevent Sprint from acquiring the remainder of the troubled mobile broadband company. Sprint owns just over 50% and is looking to acquire the remaining 49%. At issue is the price offered by Sprint for Clearwire. Sprint […]
Sprint today disclosed that it has agreed to pay Clearwire $120 million if its proposed $2.2 billion take-over of the company falls through. The deal is dependent on Sprint’s 70% stake sale to Softbank. The deal also still needs to be approved by Clearwire’s minority shareholders and government regulators. Clearwire can terminate the agreement and […]
Sprint today announced that it would be taking full ownership of wireless broadband wholesaler Clearwire. The final price for the deal came in at $2.2 billion, just above earlier estimates that had Sprint paying $2.1 billion. That price represents a 128 percent premium to Clearwire’s closing share price from October 10, the day before Sprint […]
Softbank has set a cap on how much Sprint can offer Clearwire in its take-over bid, reports Reuters. Citing people familiar with the situation, Reuters says Softbank won’t let Sprint bid more than $2.97 per share for Clearwire. Sprint’s initial offer was $2.90 per share, with the deal valued at $2.1 billion. This leaves Sprint […]
Sprint has announced that it has begun building its 4G LTE network in nine new additional cities, though the company declined to provide a timeframe for when those markets will have LTE service. That is to be expected based on past listings of LTE markets. Rather than say exactly when new cities can expect to […]
Clearwire indicated that it has significantly cut down plans to deploy TDD-LTE cell sites during 2013. The company originally intended to activate about 5,000 TDD-LTE sites around the country by the middle of 2013. Clearwire has reduced that number by 60%, down to just 2,000 sites. “We want to make sure our LTE network is […]
Sprint today indicated that, thanks to recent equity stakes sold by Clearwire, it no longer owns 54% of the company. Its ownership share has fallen to less than 50%. The change in ownership means Sprint will reclaim its voting rights, which it reduced last year to avoid the potential for a debt risk due to […]
NetZero took a different direction Monday by starting up its own 4G service. Its Clearwire-sourced WiMAX is contract-free and has the unique choice of picking either a basic (1Mbps/384Kbps) or full-speed (10Mbps/1.5Mbps) access plan, even having the option to switch over the web. The service also lives up to the company’s once historic practice of […]
Leap Wireless today announced that it has signed a wholesale agreement with Clearwire so it can access Clearwire’s forthcoming LTE 4G network. The deal, which will initially last five years, will provide Leap’s Cricket prepaid wireless service with the ability to offload extra capacity to help supplement its own LTE network. Cricket plans to deploy […]
Google in an SEC filing posted last week but discovered Friday that it had sold off its stake in 4G provider Clearwire. Two sales on February 7 and 16 were collectively worth $47 million on the assumption of selling 29.4 million shares at $1.60 each, or less than Clearwire’s $2.27 actual price as of the […]
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