Sprint confirms it's buying the rest of Clearwire for $2.2 billion

[ExtctnLvlEvnt]

Sprint has just announced that it has entered into a "definitive agreement" to buy the 50 percent stake of Clearwire it doesn't already own. The transaction, worth $2.2 billion, is $100 million higher than the original offer House Hesse had made, once rumors of the deal had pushed Clearwire's share price up. While the deal is contingent upon the legal nuts-and-bolts of the Sprint-Softbank merger going through, the Japanese company has already given its blessing to the deal.
Big Yellow has also garnered support from Clearwire's big-ticket minority shareholders, including Comcast, Intel and BrightHouse Networks. As part of the deal, Sprint will take on Clearwire's $5.5 billion in debt and licensing obligations, as well as coughing up a further $800 million in investment for the constantly-ailing network provider. If it meets regulatory approval, then the deal will complete in 2013, and never again will Dan Hesse have to have that dream nightmare about LightSquared.




Sprint confirms it's buying the rest of Clearwire for $2.2 billion

 

[gameaddict8]

Nice

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[ExtctnLvlEvnt]

yes, possibly a quicker rollout for LTE, i used to work for clearwire, they were starting to roll out LTE when i was laid off

 

[gotta have it android]

Since they bought them out would that mean WiMax would still get some more roll outs even while LTE is still being worked on?

yes, possibly a quicker rollout for LTE, i used to work for clearwire, they were starting to roll out LTE when i was laid off

 

[yankeesusa]

Since they bought them out would that mean WiMax would still get some more roll outs even while LTE is still being worked on?

Nope, they said no more roll out of wimax but they will keep it running along side lte until at least 2015. By then most people with wimax phones will be out of contract and new phones will have been released.

Sent from the Beast that is Galaxy Note 2

 

[gotta have it android]

Dang... was hoping the tower that is being built near me will have Wimax so my parents stop complain about the Wimax... It better have freaking LTE though...

Nope, they said no more roll out of wimax but they will keep it running along side lte until at least 2015. By then most people with wimax phones will be out of contract and new phones will have been released.

Sent from the Beast that is Galaxy Note 2

 

[buffdaddy72]

That is good news, Clearwire is sitting on a ton of spectrum that Sprint needs. Although it wouldn't be useable to anyone who currently has an LTE enabled phone. Is it possible that Clearwire can repurpose that spectrum for LTE?

But first and foremost the DoJ needs to give the thumbs up to the merger of Sprint and Softbank. Once that happens then the cash can start rolling in so Sprint can ramp up the Network Vision deployment.

 

[yankeesusa]

This thread is old news. It should be closed

Sent from the Beast that is Galaxy Note 2