Wednesday, October 17, 2012

Sprint to Take Control of Clearwire

Sprint Nextel Corp.will gain control of Clearwire Corp. without an acquisition, Wall Street Journal reports. Apparently, Sprint will simply buy stakes held by selling shareholders Intel and Comcast. By doing so, Sprint which already owns a 48 percent stake, will gain control of Clearwire without having to acquire all of the company. 

You might say that ends any immediate speculation about any potential Clearwire acquisition with a whimper, not a bang. The move will make sense for observers who assumed Softbank would want clear control of Clearwire as part of its purchase of 70 percent of Sprint. 

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