Sprint offers $2.1 billion for remaining shares of Clearwire

The offer from Sprint would pay $2.90 per share to Clearwire stockholders

Sprint Nextel has offered US $2.1 billion, or $2.90 a share, for the nearly one-half interest in mobile broadband firm Clearwire that the company doesn't already own.

Sprint, in a filing with the U.S. Securities and Exchange Commission this week, confirmed news reports that it was planning to buy the remaining 49.6 percent stake in Clearwire. Sprint has disclosed its plans to SoftBank, a Japanese mobile carrier planning to invest in Sprint, according to the filing.

Clearwire has planned to launch an LTE network in 2013 in five U.S. cities, but it has billions of dollars in long-term debt. The company has large spectrum holdings in many major U.S. markets.

Sprint declined to comment on the SEC filing.

Clearwire, in a statement, said it is in "discussions with Sprint regarding a potential strategic transaction." A committee of Clearwire's board of directors is reviewing the offer, the company said.

The deal is not certain. In November, Mount Kellet Capital Management, a major investor in Clearwire, called on the company's board to sell off its extra spectrum for up to $9 billion instead of selling to Sprint.

Grant Gross covers technology and telecom policy in the U.S. government for The IDG News Service. Follow Grant on Twitter at GrantGross. Grant's e-mail address is grant_gross@idg.com.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags mobileMergers and acquisitionsbusiness issuestelecommunication3g4gClearwiresprint nextelSoftbankU.S. Securities and Exchange CommissionMount Kellet Capital Management

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?