Sprint Announces Clearwire Buyout at $2.97/Share
December 17, 2012 9:00 AM
comment(s) - last by
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.”
This article is over a month old, voting and posting comments is disabled
RE: Not quite...
12/17/2012 3:28:33 PM
I have done my research and where I live Sprint's coverage is ~50% roaming onto VZW's network (by area covered). As a result my voice/3g coverage wouldn't be significantly affected by going to Sprint but unless they expand their footprint my LTE would probably be patchy until/unless VZW started allowing roaming access to it.
Sprint's unlimited data really doesn't matter to me; what I'd be more interested in would be going to one of their MVNO's that offer significantly cheaper plans for light users (probably Ting); but since VZW isn't currently letting any Sprint MVNO's roam onto their data network I'd frequently just have an over sized voice only phone when away from home.
"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates
Sources Claim Sprint, Clearwire Are Close to a Buyout Deal
December 12, 2012, 8:30 AM
HTC One Hits 5 Million Sales in First Month, Despite Issues
May 23, 2013, 4:04 PM
HTC First's Arrival in UK Canceled, Facebook Assesses "Home" Feedback
May 23, 2013, 3:02 PM
Microsoft Expands Windows Azure in Asia, Mocks iPad in New Commercial
May 23, 2013, 12:06 PM
Lenovo Reports Solid Fiscal Q4, Full-Year Financials
May 23, 2013, 9:22 AM
MSI's AMD Richland (A10)/Neptune (7/8xxxM) Gaming Notebooks Start at $1,299 USD
May 22, 2013, 3:15 PM
Apples Tries to Use Decade-Old Patents to Ban Samsung Galaxy S IV
May 22, 2013, 3:00 PM
Most Popular Articles
High School Student Creates Storage Device that Can Charge in 20 Seconds
May 20, 2013, 6:51 AM
Seawater Cooling Saves Data Center Big Bucks, Energy, Despite Jellyfish Issues
May 17, 2013, 3:23 PM
Newegg Legal Chief: "We don't Feed the Trolls"; Defeats Bell Lab Shell Comp.
May 17, 2013, 10:11 AM
Former Intel CEO Regrets Passing Up on iPhone Gravy Train
May 17, 2013, 11:46 AM
NASA Awards $125,000 Grant for 3D Printed Food on Long-Term Space Travels
May 21, 2013, 1:32 PM
Latest Blog Posts
Lumosity: Does it Work?
May 22, 2013, 8:20 PM
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information