Sprint in talks to buy out Clearwire shareholders - report

News Wireless United States 12 DEC 2012
Sprint in talks to buy out Clearwire shareholders - report
Sprint is in preliminary talks with Comcast and Intel to acquire their stakes in mobile broadband operator Clearwire before launching an offer to buy the rest of the 49 percent it does not own, according to people familiar with the matter. The Financial Times reports that the move would give Sprint additional spectrum to challenge Verizon, AT&T and T-Mobile but would complicate its agreement with Japan's Softbank, which announced it October that it would pay USD 20.1 billion to buy 70 percent of Sprint. That same month Sprint bought a small Clearwire stake from Craig McCaw to regain majority control, although the move did not give it full control of the spectrum it seeks. Clearwire shares rose by 12 percent to USD 2.68 on the news, with CNBC reporting that Sprint was in talks to pay USD 3 a share for Clearwire. Clearwire's other minority shareholders include Mount Kellet Capital and Highbridge Capital Management.

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