Sprint to Buy Out Clearwire
Via: New York Times
“Sprint announced on Monday that it had reached an agreement to buy the nearly 50 percent stake in Clearwire that it did not already own for $2.97 a share — a bump up from the $2.90 a share that was offered on Thursday.
The improved $2.2 billion offer, Sprint said, represents a premium of 128 percent over Clearwire’s stock price in early October before speculation emerged — following SoftBank‘s investment in Sprint — that Sprint would seek to buy out the wireless network operator.
Sprint already owns 51.7 percent of Clearwire. Buying the rest would give it full control over spectrum that it could use to build out its network.”
SoftBank of Japan has come to help in this acquisition and we will see Sprint grow steadily in the coming months. This of course will keep Sprint from being overshadowed by the top tier cell phone providers, AT&T and Verizon. Everyone seems excited about this purchase. Let’s see how this affects competition in the future.
Joaquin Then on December 17th, 2012 7:21 pm
I live in new york city and i tell you guys i been in att and it was amazing dont get me wrong but sprint is making big decision since july. i have been upto date with all their news and i give it till april when they hit 50% of completion in nyc with 4g lte sprint will sky rocket into maket top second biggest carrier due to their unlimited 4g data , over 115 market in contruction of 4g lte , softbank constribution and clearwire. I already have about 15 friends who as soon as sprint rollout 4g lte in nyc they leaving their company carrier just imagen thats my 15 friends and count 15 x their friends keep it up sprint