Clearwire Path Clears
Clearwire is holding its shareholder meeting at 9 a.m. Pacific Time tomorrow. We should know the outcome of the shareholder vote sometime tomorrow.
"We will issue a press release tomorrow to announce the results of our stockholder vote," a company spokeswoman says.
Clearwire and Sprint Corp. (NYSE: S) have already jumped another hurdle to the creation of a nationwide mobile WiMax operator as they enter the home stretch on a deal that will see the Kirkland, Wash.-based company receive $3.2 billion to build a wireless broadband network in the U.S.
An Illinois circuit court removed -- for the time being -- one of the last obstacles to the creation of the "new" Clearwire Monday, telling Sprint affiliate iPCS that it must pull its motion for a temporary restraining order on the deal, but that it could refile later. The wireless reseller alleges that the Clearwire deal will create competition for its affiliates, thus breaking a deal it has with Sprint.
All of this could clear the way for the deal to close by year's end.
â€“ Dan Jones, Site Editor, Unstrung