Sprint to acquire remaining Clearwire stake, reports indicate
Sprint is nearing a deal which will see the carrier purchasing the remaining stake of Clearwire, according to new reports. Said to be close to wrapping up by the end of the year, Sprint could acquire the 49% of the company (~488 million shares) owned by the public. Reportedly, Sprint has been rather busy as of late, working with Clearwire’s bigger shareholders and hoping to purchase the stock at roughly $3 per share.
WHILE A DEAL IS NOT IMMINENT, THE TWO COMPANIES ARE INVOLVED IN ACTIVE NEGOTIATIONS AND COULD ANNOUNCE AN AGREEMENT PRIOR TO THE END OF THE YEAR. GIVEN THE COMPLEXITY OF THE RELATIONSHIP BETWEEN THE TWO COMPANIES, THE GOVERNANCE AGREEMENTS, THE OWNERSHIP STRUCTURE, NOT TO MENTION SPRINT’S PENDING DEAL TO SELL A MAJORITY STAKE TO SOFTBANK, WHILE SOURCES CAUTION THAT A CLEARWIRE ACQUISITION IS STILL FRAUGHT WITH DIFFICULTY.