Sprint Raises Clearwire Offer to $5 Per Share
He has his own reputation. In the telecommunications business he's the reckless kid who's willing to bankrupt whoever he needs to bankrupt in order to get what he wants.
That's a pretty penny over their initial purchase offer for Clear... Sprint needed Clearwire's spectrum holdings sorely.
Step 1: Pay a ridiculous premium for Nextel, chiefly to obtain the Nextel spectrum holdings.
Step2: Give most of that spectrum away to Clearwire for pennies on the dollar, THEN keep shoveling cash to Clearwire to keep them afloat.
Step 3: Pay a premium to buy back the spectrum from Clearwire that you already paid the Nextel premium for in the first place.
I'd hate to think the ACTUAL total amount Sprint has paid for that spectrum over the course of those three transactions.
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