Sprint to Wrest Control of Clearwire from Other Investors
Sprint is preparing to regain control over Clearwire without actually acquiring the company. Citing people familiar with Sprint's plans, the Wall Street Journal reports that Sprint is negotiating with Clearwire's other investors in order to regain a majority interest in the company. The deal, if struck, would give Sprint the ability to appoint the entire board of directors overseeing Clearwire. This would give it control of Clearwire by proxy. According to the Journal's sources, gaining control of Clearwire was a condition of winning the $20.1 billion investment from Japanese network operator Softbank, which was announced earlier this week. Terms of the deal between Sprint and Cleawire's other investors, which include companies such as Intel, were not disclosed.