Phone Scoop

printed September 20, 2014
See this page online at:
http://www.phonescoop.com/articles/article.php?a=11729

Home  ›  News  ›

Clearwire Investor Wants FCC to Block Sprint Sale

Article Comments  2  

Jan 4, 2013, 6:00 PM   by Eric M. Zeman

Crest Financial, an investment firm that owns about 8% of Clearwire, plans to ask the Federal Communications Commission to prevent Sprint from acquiring the remainder of the troubled mobile broadband company. Sprint owns just over 50% and is looking to acquire the remaining 49%. At issue is the price offered by Sprint for Clearwire. Sprint bid $2.97 per share for a total of about $2.2 billion. Crest believes the per-share price offered by Sprint "grossly undervalues Clearwire" and its spectrum holdings. Crest plans to argue to the FCC that by undervaluing Clearwire's spectrum, it could result in lost revenue for the government in future spectrum sales. "The merger is therefore a bad deal all around for Clearwire shareholders and also for the public at large," said Dave Schumacher, a lawyer for Crest. Crest has already filed a separate lawsuit seeking to block the sale to Sprint. Crest is also hoping to prevent Comcast, Intel, and Bright House Networks, which combined own 13% of Clearwire, from voting on the deal due to their close business ties with Sprint. The deal needs federal approval and the approval of both Sprint's and Clearwire's boards.

more info at Reuters »

AD

Comments

Forum Options

This forum is closed.


Subject Author Date
Greed sp_5015 Jan 5, 2013, 8:45 PM
  • Re: Greed by timvideo   Jan 6, 2013, 3:36 PM
 
 
Page  1  of 1

This forum is closed.

Subscribe to Phone Scoop News with RSS Follow @phonescoop on Twitter Phone Scoop on Facebook Phone Scoop on Google+ Subscribe to Phone Scoop on YouTube Follow on Instagram

 

All content Copyright 2001-2014 Phone Factor, LLC. All Rights Reserved.
Content on this site may not be copied or republished without formal permission.
1