The Federal Communications Commission on Friday cleared both Softbank's acquisition of a 78 percent stake in Sprint for $21.6 billion and Sprint's purchase of the remaining shares of Clearwire for $5 per share, which would value the firm at $14 billion.
Having lost out on its bid to acquire Sprint and/or Clearwire, Dish Network might be looking to buy T-Mobile, Bloomberg is reporting.
The Federal Communications Commission is the final hurdle for Softbank's acquisition of Sprint, after Sprint shareholders approved the deal on Tuesday.
Clearwire's board and key shareholders are backing a revised offer from Sprint, which is proposing to pay $5 per share for the remaining shares in Clearwire, a 14 percent premium over Dish Network's offer, Bloomberg is reporting.
Satellite TV provider Dish Networks said it would not submit a revised offer for Sprint by the June 18 deadline set by Sprint's board.
The board of U.S. wireless provider Clearwire, along with proxy advisory firm Institutional Shareholders Services, recommended this week that Clearwire shareholders reject the offer of majority shareholder Sprint to acquire the rest of the company for $3.40 per share, Reuters reported.
U.S. wireless carrier Clearwire has decided to postpone a shareholder vote on majority shareholder Sprint's offer to buy the remaining shares of the company in response to a more attractive offer from rival suitor Dish Networks, Reuters reports.
Does the acquisition of the third largest wireless carrier in the U.S. by a foreign company pose a security risk to the U.S. telecom infrastructure? Yes, say two senior U.S. lawmakers.
In apparent response to pressure from Clearwire's minority shareholders, majority shareholder Sprint has bumped up its offer for the rest of Clearwire to $3.40 per share from a previous $2.97 per share, an offer that would value the wireless provider at $10.7 billion.
Clearwire's minority shareholders are expected to reject a buyout offer from majority shareholder Sprint, according to analysts consulted by Reuters.