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.
The Securities and Exchange Commission has given Softbank the go-ahead to mail out proxy statements for its offer to buy 70 percent of Sprint Nextel for $20 billion.
The Wall Street Journal examined on Thursday the competing bids for Sprint Nextel: one from Japan's Softbank, which is offering $20.1 billion for 70 percent of Sprint, and another from United States satellite TV firm Dish Network, which is offering $25.5 billion for all of Sprint through a merger of the two firms.
Japan's Softbank is not planning to raise its $20 billion bid to acquire control of Sprint to match Dish Network's $25.5 billion bid for the United States wireless carrier, an executive at Softbank told Bloomberg.
Crest Financial, the largest minority shareholder in wireless service provider Clearwire, has filed a proxy statement urging shareholders to reject the bid by majority shareholder Sprint to acquire the remaining shares of Clearwire.
Sprint Nextel and Japanese firm Softbank have agreed to restrictions on purchasing telecom gear from Chinese suppliers as part of the approval process for Softbank's purchase of a controlling stake in the American wireless carrier, according to government officials consulted by the New York Times .
Dish Network's bid to steal Clearwire out from under Sprint Nextel could signal the satellite TV provider's interest in partnering with the terrestrial broadband wireless provider.
Crest Financial, which owns a mere 3 percent of Clearwire, is trying to derail Sprint Nextel's acquisition of the remaining shares in the wireless broadband carrier for $2.2 billion, through a class-action lawsuit intended to block the acquisition, according to a report by Reuters.
Mobile voice over LTE, or VoLTE, and other wireless spending is expected to contribute to annual growth in the carrier VoIP and IMS equipment market for the first time in four years, according to Infonetics Research.