2 Comments linknewsroom.sprint.com

Sprint to Acquire 100 Percent Ownership of Clearwire for $2.97 per Share

Sprint (NYSE:S) today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2 billion. This transaction results in a total Clearwire enterprise value of approximately $10 billion, including net debt and spectrum lease obligations of $5.5 billion.

Full article on newsroom.sprint.com

  • http://sean-the-electrofreak.blogspot.com/ Sean the Electrofreak

    Good, maybe they can get LTE out in my area already. I am in one of the first cities that got WiMAX, but we’re not even on the roadmap yet for LTE, and I’m rockin’ an LTE-capable SGS3.

    Clearwire has been Sprint’s principal WiMAX provider, but I figured Sprint was ditching them with the move to LTE. Since they’re buying them outright, it indicates that Sprint likely plans on upgrading Clearwire’s WiMAX network to LTE. As I understand it, most WiMAX hardware can be upgraded to LTE via software updates once the necessary infrastructure is in place. I’m a WAN network tech, so I can appreciate all the other work that will need to be done to convert a WiMAX network to LTE.

    In any case it’s good news for those of us under Clearwire’s WiMAX umbrella.

  • ibap

    Interesting. I thought there were reports that Softbank was not going to let this go through?

    But it looks like they got it to go, with Softbank capping the price.