Clearwire announced that it has declined to take Sprint’s financing offer; an offer that was worth up to $800 million. The reason is because Clearwire wants to keep its options open. The company is still considering DISH Network’s bid of $5.15 billion, which is more than twice as much what Sprint’s offering. DISH said that if Clearwire took up… Read more
In an interesting move, Google filed paperwork with the FCC to get a license for a 2 mile radius network around their campus. The network would be built on the 2524 to 2625MHz spectrum (currently owned by Clearwire), which means it would only be accessible to devices that can access the 2.5GHz spectrum. Unfortunately, there aren’t many, especially in… Read more
So here’s some news that took everyone, especially Sprint, by surprise. DISH wants to buy the 49.2% of Clearwire that Sprint does not already own. It has even made a bid of $5.15 billion, at $3.30 per share, which is over twice what Sprint is offering. Sprint is obviously upset with DISH’s deviousness, but they’re not too scared. Sprint believes… Read more
It turns out that if Sprint’s deal with Clearwire falls through, Sprint is going to have to pay Clearwire a $120 million breakup fee. This way Clearwire has some sort of contingency plan if things go awry. There are many reasons why this deal may not go through: One: It may not be approved by government regulators, specifically the FCC. Two:… Read more
Sprint has just acquired Clearwire for $2.2 billion, which is just $100 million more than its previous offer. That’s the highest amount that Softbank, Sprint’s new major investor, would allow the company to offer for the acquisition of Clearwire. For a second there it almost looked like Sprint wouldn’t be able to acquire Clearwire, partly due to the… Read more
Yesterday, Sprint made a $2.1 billion offer to purchase the remaining 49% of Clearwire it doesn’t own. That’s roughly $2.90 per share of Clearwire. Today Softbank told Sprint that it is only allowed to bid up to $2.97 per share, which is what Sprint paid when it bought a small stake of Clearwire from its founder Craig McCaw’s Eagle River Holdings… Read more
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… Read more
Following the move by Japanese carrier Softbank Corp. to agree to a purchase of Sprint, the US’ third largest carrier is making moves to help improve their network. Earlier today it was revealed that Sprint has upped its current stake in Clearwire to 50.8 %, giving the carrier voting control over all Clearwire company decisions. Please keep in mind,… Read more
All you Android users on Sprint, there is some good news coming down the pipe for your enjoyment. Today marked the day that Clearwire was due to pay the interest on an outstanding debt (to the tune of $237 million). What comes from the payment you ask? Well Sprint, as part of its transition to LTE was planning to phase out WiMAX coverage in 2012. Now, with… Read more
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