Clearwire Shareholder Sues to Stop Sprint-Softbank Merger

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One of Clearwire Corp.’s largest shareholders is asking a Delaware court to stop a pending merger between Overland Park-based Sprint Nextel Corp. and SoftBank Corp.

Crest Financial Ltd., a Texas investment company, contends that Clearwire’s rich wireless broadband spectrum assets have lost value to Sprint during the SoftBank merger, which Crest contends would harm Clearwire shareholders.

Sprint, Clearwire’s largest shareholder, increased its stake in the company from 48 percent to 50.8 percent in October, soon after Japanese suitor SoftBank announced the merger plan.

Read more on Kansas City Business Journal.

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