Sprint/Clearwire Merger Could Close July 9
Sprint, which already owns a 50 percent stake in Clearwire, increased its bid for the remainder of the company to $5 a share at the end of June. Rival bidder Dish then backed off its attempt to get a stake in Clearwire. (See Sprint Ups Bid for Clearwire to $5 a Share and Dish Cedes to Sprint's Clearwire Bid.)
On July 5, Sprint got the requisite government approvals for both the Clearwire and SoftBank mergers. (See FCC Approves SoftBank/Sprint, Sprint/Clearwire.)
On Monday, the majority of Clearwire stockholders not affiliated with Sprint approved the merger deal. The companies said in a statement Monday that they now expect the merger to be completed by this Tuesday.
Everything now appears to be on track for Sprint to fully merge with both SoftBank and Clearwire, giving it more money and spectrum to play with as it upgrades across its network to 4G LTE. — Dan Jones, Site Editor, Light Reading Mobile