Sprint Nextel's network partner Clearwire hasn't been able to find any other big wholesale customers nor sell any of its spectrum, so selling out to Sprint is the only real option for its shareholders, the company said Monday.
Verizon Wireless reportedly has offered US$1 billion to $1.5 billion for some of Clearwire's spectrum leases, possibly complicating Sprint Nextel's attempt to buy out the company in conjunction with its acquisition by Softbank.
Sprint Nextel and Softbank have pledged to keep Huawei Technologies products out of the Sprint network and try to replace Huawei gear that is already in Clearwire's network, according to a U.S. lawmaker.
Dish Network has offered to buy Clearwire for US$3.30 per share, throwing a wrench in Sprint Nextel's deal to buy its mobile broadband partner for $2.97 per share.
An investor in Clearwire has stepped up its fight to get a better price for the mobile operator, but Clearwire's alternatives to a Sprint Nextel buyout may be limited due to the nature of its spectrum and its business.
Sprint Nextel will spend US$2.2 billion to take complete ownership of Clearwire, a move that will help it expand its network capacity.
Sprint Nextel's proposed buyout of network partner Clearwire may be inevitable, and it could help Sprint keep its signature unlimited mobile data plans alive.
Sprint Nextel has offered US $2.1 billion, or $2.90 a share, for the nearly one-half interest in mobile broadband firm Clearwire that the company doesn't already own.
Sprint Nextel is in negotiations to acquire the remainder of Clearwire, its 4G WiMax network partner, according to news reports.
A major investor in WiMax operator Clearwire told the company's board on Thursday to sell its excess spectrum for up to US$9 billion to prevent Sprint Nextel from buying out the company at a discount.
Clearwire's big payday on Tuesday, when it raised US$734 million through a stock offering and a new investment by majority owner Sprint Nextel, helped the WiMax carrier but didn't seal the deal on its planned LTE network.
Clearwire plans to raise as much as $345 million in stock transactions to help fund its LTE (Long Term Evolution) network deployment and other activities.
At least one of the cable operators that struck a wireless spectrum deal with Verizon on Friday now plans to stop reselling WiMax mobile service from Clearwire.
Sprint Nextel may help finance Clearwire's LTE network and keep offering WiMax service through 2015 under a set of agreements worth as much as US$1.6 billion that the companies laid out on Thursday.
WiMax carrier Clearwire has stopped selling postpaid service plans and dual-mode 3G-WiMax client devices, two moves that make it less of a competitor to its main wholesale customer, Sprint Nextel.
Gadgets & Things
Most Popular Reviews
- 1 Finally! LG OLED TV 2016 range review
- 2 Huawei Nova Plus smartphone review
- 3 Apple iPhone 7 Plus review: including Portrait Mode
- 4 Google Daydream View VR full, in-depth review
- 5 Google Pixel XL full, in-depth smartphone review: Phones just got smarter
Join the PC World newsletter!
Latest News Articles
- Lavabit developer has a new encrypted, end-to-end email protocol
- Apple sues Qualcomm over patent licensing and $1B in payments
- New details emerge about Intel's super-small Euclid computer for robots
- Microsoft will soon end Office 2013 distribution through Office 365
- Researchers propose a way to use your heartbeat as a password
GGG Evaluation Team
First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.
- Time to ditch Foxtel and the iQ3: How to replace Foxtel packages with cheaper alternatives
- The top 10 best and worst tech gadgets and products of 2016
- TV of the year award 2016
- What's the difference between an Intel Core i3, i5 and i7?
- Laser vs. inkjet printers: which is better?
- FTBrand Marketing Manager - Premium Entertainment BrandNSW
- TPTest AnalystQLD
- CCSystem Engineer - AdelaideWA
- FTCheckpoint Firewall and VPNNSW
- CCAutomation Test Analyst - Geospatial and Industrial EnterpriseVIC
- CCIT Risk Specialist (Assurance) - TelcoVIC
- CCSecurity AnalystACT
- TPSenior Test Analyst - DETEQLD
- CCOrganisational Change ManagerACT
- FTSenior .Net DeveloperVIC
- TPPL/SQL DeveloperNSW
- FTTechnical Consultant MS Dynamics AXNSW
- FTLevel 3 EngineerNSW
- FTSenior Linux Systems AdministratorNSW
- TPSenior Business Analyst - Travel and Expense Management SystemQLD
- CCLead DevOps Architect l AWS- Cloud- Linux- Puppet Ansible- JIRA-DatadogNSW
- FTSalesforce Technical Business AnalystQLD
- CCProject Manager - Location Management Program - TelcoVIC
- FTSenior AEM Consultant - Public SectorACT
- FTTechnical Consultant/Systems AnalystQLD
- CCSenior Business AnalystNSW
- CCSenior Project Manager - Financial Planning - Contract - Sydney CBDNSW
- FTSenior Learning Specialist - Global OrganisationQLD
- FTBusiness Development Manager - IT SolutionsNSW
- TPICT Project CoordinatorQLD