Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday October 18, 2012

Sprint Acquires a Controlling 50.8% Stake in Clearwire

Sprint Nextel is preparing to take control of Clearwire, one of its investment companies, by backdoor negotiations. Sprint has bought out two other Clearwire investors to gain a majority share of the company. The control of Clearwire was crucial to insure the business transaction with Softbank would continue.

According to reports, Clearwire was a major sticking point in Softbank's recent announcement that it will acquire a 70 percent stake in Sprint for $20.1 billion.