It looks like being majority shareholder of a company isn’t enough for Sprint. Sprint already owns 50.8% of Clearwire since October 18th. It has voting control of all of Clearwire’s decisions, but that just isn’t enough. Sprint is now making a move to grab the remaining 49.2% of Clearwire.
Not only will this give Sprint complete control over Clearwire’s business direction, but this would also give Sprint the right to Clearwire’s TD-LTE network as well as their 2.5GHz spectrum ownership. This will play a major role in Sprint’s long-term goal of building out its network.
There still is a probability that Softbank, the Japanese carrier acquiring a 70% majority ownership of Sprint, will block Sprint from acquiring the rest of Clearwire. Sprint also has to convince Clearwire’s shareholders to approve the deal.
An insider stated however that Sprint may make the Clearwire deal successful by making it conditional on their approval of Softbank’s acquisition.
With all of this talk of Sprint acquiring Clearwire as a whole, Clearwire’s shares went up 15% at $2.75. That gives Clearwire a market value of around $1.8 billion.
Sprint’s move to take over Clearwire is all part of its major plan in taking on Verizon Wireless and AT&T. It is already making a move to partner up with Dish Network, and it will receive $8 billion when Softbank successfully acquires 70% of the company. Sprint has all of the ammo it needs to create a serious impact on the wireless industry.