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!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuestelecommunicationsprint nextelmobileClearwireMergers and acquisitionsSoftbankMount Kellet Capital ManagementU.S. Securities and Exchange Commission4g3g

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

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?