Sprint-Clearwire Deal Closes

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Sprint Nextel Corp. has closed on its $3.8 billion acquisition of Clearwire Corp.

The deal, which gives Overland Park, Kan.-based Sprint full ownership of the Bellevue, Wash.-based company, consummated Tuesday, one day after Clearwire shareholders approved Sprint’s proposal to buy the 49 percent of the Clearwire that it did not already own. The acquisition gives Sprint, the No. 3 U.S. wireless carrier, access to Clearwire’s vast wireless assets, called spectrum, which the company plans to use to bolster its 4G LTE wireless network.

Sprint is also slated slated to wrap up its merger with Tokyo-based SoftBank Corp. on Wednesday. SoftBank is buying a 78 percent stake in Sprint for $21.6 billion.

Read more from the Kansas City Business Journal

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