Sprint Ups Clearwire Bid to $2.2B, Clearwire Agrees
Sprint today announced that it has agreed to acquire Clearwire for $2.2 billion. Sprint initially bid $2.1 billion, or $2.90 per share, last week. Today's bid has been raised to $2.97 per share, which amounts to a $100 million increase in the total bid. Softbank, which is in the process of acquiring a 70% stake in Sprint, indicated last week that it would not approve of a bid higher than $2.97 per share. Sprint already owns 50.45% of Clearwire and is purchasing the remaining 49.55%. Other Clearwire investors, including Comcast and Intel, have agreed to the new terms and Clearwire's board has voted in favor of the acquisition. According to Sprint, the deal will put it in a better position for its LTE 4G plans moving forward, and help it to be a better competitor to AT&T and Verizon Wireless. Clearwire has vast spectrum holdings in the 2.5GHz band. The deal is subject to regulatory approval and is expected to close in the middle of 2013.
Galaxy S8 to Cost $750, S8+ to Cost $850: Carriers Share Launch Details
Samsung's new Galaxy S8 and S8+ smartphones will cost $750 and $850, respectively. The phones share almost all features other than size and both ship with 64 GB of internal storage.
More Carriers and Phone Makers Agree to Adopt Google's RCS-Based 'Android Messages' Service
Google today said more wireless network operators and handset manufacturers will use Android Messages, its RCS-based messaging service, as the default SMS/MMS tool on their phones. (Android Messages was previously known as Google Messenger.) Some of the features of RCS, which is a global standard, include group chat, high-resolution photo sharing, advanced calling features, and read receipts.
Sprint's WiMax Shutdown May Halt Service for Charities
Sprint plans to deactivate its WiMax network on Nov. 6, but some charities say the change will eliminate internet service for some 300,000 Americans altogether.
Masayoshi Son Would Consider Selling Sprint Spectrum
SoftBank CEO and Sprint Chairman Masayoshi Son indicated he'd be willing to sell some of the company's 2.5GHz spectrum assets to keep Sprint funded. Sprint gained a massive amount of 2.5GHz spectrum holdings when it purchased Clearwire.