backtop


Print


Sprint CEO Dan Hesse
Sprint buys Clearwire spectrum

Rumors were circulating late last week that Sprint and Clearwire were close to a deal that would see wireless carrier Sprint acquire all Clearwire shares that it didn't already own. Sprint has announced today that it has entered into an agreement that would see it acquire 100% ownership at $2.97 per share.

Sprint says that it is uniquely positioned to leverage Clearwire's 2.5 GHz spectrum assets. Sprint also believes that the purchase will strengthen its position and increase its competitiveness in the wireless industry within the U.S.
 
With all outstanding shares Sprint is purchasing, the deal values Clearwire at $2.2 billion. The transaction gives Clearwire a total enterprise value of about $10 billion including its net debt and spectrum lease obligations of $5.5 billion.

Sprint CEO Dan Hesse championed the move, stating, “Sprint is uniquely positioned to maximize the value of Clearwire’s spectrum and efficiently deploy it to increase Sprint’s network capacity. We believe this transaction, particularly when leveraged with our SoftBank relationship, is further validation of our strategy and allows Sprint to control its network destiny.” 

Source: Sprint





"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
Related Articles



Latest Headlines
Meizu Smartphone - Now Available in US
December 9, 2016, 5:00 AM
3 Budget LED TVs
December 7, 2016, 5:00 AM
How is the BlackBerry DTEK50 Doing Today?
December 6, 2016, 1:00 PM
Best Secure Android Mobile Browsers:
December 5, 2016, 7:24 PM
Fake Apple Chargers Fail Safety Tests
December 2, 2016, 5:00 AM










botimage
Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki