Sprint Buys Controlling Interest in Clearwire

Photo courtesy of Creative Commons

Sprint Nextel Corp. now owns a majority stake in Clearwire Corp., eliminating a big risk as the Overland Park-based wireless carrier tries to consummate a $20.1 billion deal with SoftBank Corp.

Sprint had owned 48 percent of Clearwire before acquiring an additional 4.5 stake, according to a filing with the Securities and Exchange Commission. Sprint’s Clearwire holdings value now at about $69.9 million.

Although Sprint’s sale of a 70 percent interest to SoftBank is not predicated on gaining control of Clearwire, the deal now gives Sprint unfettered access to Clearwire’s valuable spectrum assets.

Read more at the Kansas City Business Journal.

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