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Clearwire Investor Wants Spectrum Sale Back on the Table

Article Comments  6  

May 25, 2011, 12:39 PM   by Eric M. Zeman   @phonescooper

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.

more info at BusinessWeek »

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Iknownothing

May 25, 2011, 2:39 PM

did i read that right?

Is this investor asking clear to sacrifice it's (and possibly sprint's) long term stability for the sake of a higher sale price? Am I missing something? I genuinely want to know.
Nope,

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 Smile

Asif S. Kidwai
Investors only care about $$$$$$$.
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One of the largest discussions within the big corporate community over the last couple of years, is CEOs and their team not being able to apply more power in running the companies in which they were elected to do so. They have made compromises to appe...
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