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Sprint Invests Just Enough in Clearwire to Give it 50.8%

Oct 18, 2012, 7:15 AM by Eric M. Zeman

Sprint has purchased some Class A and Class B shares in Clearwire from Eagle River Holdings, according to regulatory filings cited by the New York Times. The stock purchase, which was not given a monetary value, raises Sprint's stake in Clearwire from 48% up to 50.8%, giving it majority ownership of the company. The Times notes that gaining control of Clearwire was not a necessity for Sprint to receive $20.1 billion in financing from Japan's Softbank, but it "simplifies the relationship." Late Wednesday, AT&T expressed concern over the amount of spectrum that Softbank could come to control with its ownership stake in Sprint and Clearwire.

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Comments

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This forum is closed.

Jaden10

Oct 18, 2012, 8:32 AM

Yay for Sprint, Screw AT&T

This is a good move for Sprint. I like that little company for many reasons.

And as for AT&T, screw em. They are only bitter because the FCC, DOJ and God knows who else shot there bit for T-Mobile down. Fuq em.

Luar

As a Sprint customer I am glad this is happening. As far as AT&T they just received "FCC Greenlights AT&T's WCS Spectrum Plans " . So in other words they are just fine , that will amplify there LTE networks and is also a counter to what Verizon receiv...
(continues)

...

DAntiVirus

Oct 18, 2012, 3:14 PM

So who is right?

The Times said that controlling clearwire was not required but the journal says '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.'

So who is right? One of them needs to make a correction. lol

Jarahawk

Why would Sprint feel the need to gain control otherwise? The timing obviously points to the fact that Sprint needed a majority stake in Clearwire.

T Bone

The Wall Street Journal is dedicated specifically to business news, and they are rarely wrong.

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