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.
"There is a single light of science, and to brighten it anywhere is to brighten it everywhere." -- Isaac Asimov
Sources Claim Sprint, Clearwire Are Close to a Buyout Deal
December 12, 2012, 8:30 AM
Apple Completes Purchase of Beats Music, Beats Electronics
August 1, 2014, 11:26 AM
HP to Launch Smartwatch Designed by Michael Bastian
August 1, 2014, 9:59 AM
New Qi Version 1.2 Allows Wireless Charging From 2 Inches Away
July 31, 2014, 3:53 PM
HTC J Butterfly Announced by Japan's KDDI, Packs LTE-A Carrier Aggregation
July 31, 2014, 2:34 PM
T-Mobile Subscriber Numbers Surpass 50 Million, Sees Q2 Profit of $391M
July 31, 2014, 12:24 PM
Verizon Wireless Launches 5.7", 960x540 LG G Vista Smartphone for $400 Off Contract
July 31, 2014, 11:02 AM
Most Popular Articles
Facebook Will Force Android, iOS Users to Use Messenger App This Week
July 29, 2014, 11:26 AM
Ford's Extensive Use of Aluminum in '15 F-150 Results in $395 Increase for Base Models
July 28, 2014, 3:02 PM
Sony's Xperia Z3 Gets Detailed in Leaked Photos
July 25, 2014, 2:30 PM
T-Mobile CEO John Legere is on the Warpath Again; Introduces $100, 10GB Family Plan
July 28, 2014, 10:12 AM
UK Drivers Must Now Give Their Cell Phones to Police After a Crash
July 29, 2014, 4:37 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information