Clearwire Investor Wants Spectrum Sale Back on the Table
Pardus Capital Management, a firm that has invested in Clearwire, has sent a letter to interim Chief Executive Officer John Stanton asking that he reconsider his position on selling some of Clearwire's spectrum. Earlier this month, Stanton ruled out a spectrum sale as a way to increase capital. Pardus argues that the move is keeping Clearwire's stock artificially low ahead of a suspected Sprint buyout of Clearwire. Pardus believes that if Clearwire were to sell spectrum and raise capital, its stock price and overall value would also go up, meaning it could sell for a higher amount. Clearwire has been plagued by money problems, despite Sprint's recent commitment to give Clearwire $1 billion, and continues to seek out additional sources of funding. Clearwire acknowledged the receipt of Pardus' letter, but wouldn't offer comment on the matter.
T-Mobile Seeking Funds, Will Sell Stock
T-Mobile today said it intends to raise capital by selling up to 17.4 million shares in stock. T-Mobile said it will use the proceeds from the sale for "general corporate purposes, including capital investments and acquisition of additional spectrum." T-Mobile said the money won't be used for the AWS-3 spectrum auction, which is taking place right now.
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.
Sprint Shuffles Execs, Names New CFO
Sprint today made changes to its top executives and named a new chief financial officer. Sprint appointed Tarek Robbiati to the CFO position, where he replaces Joseph Euteneuer, who will leave the company.
Sprint Complains to FCC Over Proposed Spectrum Screen
Sprint submitted a proposal to the Federal Communications Commission this week in response to the FCC's suggested spectrum screen reforms. The FCC established spectrum screens to help it weigh how much spectrum is owned by wireless network operators in a given market.
did i read that right?
You read it right. By the way, what grade did you make in rocket science class?
Wait a minute, it doesn't take a rocket scientist to figure this stuff out
Asif S. Kidwai