Sprint Takes Board Control of Clearwire After Increasing Ownership to 50.8%

Discussion in 'Android Tablet News' started by dgstorm, Oct 18, 2012.

  1. dgstorm

    dgstorm Editor in Chief Staff Member

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    Just a days after the official announcement that Softbank would be acquiring Sprint Nextel, the Now Network makes an unsurprising strategic move to bolster their spectrum holdings. They bought up a 4.5 percent stake in Clearwire that was formerly owned by Eagle River. While Sprint was already a major shareholder of Clearwire, this effectively gave them a 50.8% share of the company and they moved to control the board. Here's a quote with more info,

    Originally, there was a lot of industry speculation that Sprint would not try to take control of Clearwire, because they are now "all-in" on LTE instead of WiMAX; however, the other important factor that many analysts missed was that Clearwire still holds additional spectrum, and if Sprint can control that, then it makes them even more attractive to Softbank, and will help solidify the deal.

    Source: Bloomberg
     
  2. MA83

    MA83 Member

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    It's good to hear that at least a third player is making good head way against the big two!
     
  3. tragidy

    tragidy Junior Member

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    Nasty nasty nasty....

    Bleh...
     

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