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Wireless

Crest backs Sprint's improved offer for Clearwire

Thursday 4 July 2013 | 07:27 CET | News
Investment firm Crest Financial, a minority shareholder in US wireless internet operator Clearwire, has reversed its initial opposition to Clearwire's takeover bid from mobile operator Sprint Nextel. In an SEC filing, Crest states that it is supporting the deal after Sprint raised its offer to USD 5 per share, which is 14 percent more than the bid from pay TV operator Dish. Sprint already owns half of Clearwire, whose board has accepted its offer. Clearwire's shareholders are due to vote on the Sprint bid on 8 July. Sprint's shareholders approved a USD 21.6 billion takeover by Japan's

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Categories: Mobile & Wireless
Companies: Clearwire / Softbank / Sprint Nextel
Countries: United States
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