Clearwire Investor Escalates Battle with Sprint
Crest Financial, an investor that opposes Sprint's proposed take-over of Clearwire, took firmer steps towards preventing the deal from taking place. Crest filed a preliminary proxy statement with the Securities and Exchange Commission that will be used to urge Clearwire stockholders to reject the proposed merger. Crest has argued for months that Sprint's offer significantly undervalues Clearwire's worth. Sprint initially offered $2.91 per share, but later raised its offer to $2.97 per share. Sprint's maximum offer was limited by Softbank, the Japanese carrier that is in the process of acquiring a 70% s take in Sprint.
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.
Sprint Offering 10GB to 4-Line Family Plans for $100
Sprint today introduced the Sprint Family Share Pack, a plan that includes unlimited talk and text and 10 GB of shared data for four lines for $100 per month. Sprint Family Share Pack subscribers can quadruple their shared data to 40 GB for $20 more (total of $120 before taxes and fees).
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.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
Wouldn't it be funny