Sprint Looking to Acquire Clearwire
Sprint Nextel is seeking to purchase the remaining shares of Clearwire that it does not already own, reports the Wall Street Journal. Citing sources familiar with Sprint's plans, the Journal says Sprint believes the acquisition could help it resolve control issues regarding Clearwire, in which it holds a significant stake. Sprint also wants Clearwire's vast spectrum holdings to supplement its future network plans. Sprint's pending partial acquisition by Japan's Softbank may complicate its attempt to take ownership of Clearwire, however, and the talks may fall through. Earlier this year, AT&T warned the FCC that it should weigh carefully any transaction that gives Softbank control over so much U.S. spectrum.
Would this be an acquisition or a repossession?
Just one poorly executed business deal with Clear one after another. Dan Hesse and Bob Johnson should of washed their hands of this debacle back in Q4 2008 when Clear used Sprint's and Sprint's stakeholder's capital to fund Clear's retail business model to compete directly with Sprint in the CGN/BGN broadband market.
Clear has bled Sprint dry and had delivered nothing other than bad debt, a botched network vision upgrade that has grossly failed to meet any of it's hard stop deadlines and is well over budget.
Isn't this like?