Reuters: Global Markets: Sprint Nextel assumes majority stake in Clearwire

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Sprint Nextel assumes majority stake in Clearwire Oct 18th 2012, 12:07 Tweet Share this Email Print Related News Euro climbs to 1-month high vs dollar Wed, Oct 17 2012 Analysis: Softbank deal's big on size, small on change Tue, Oct 16 2012 Japan's Softbank snaps up Sprint in $20 billion deal Tue, Oct 16 2012 Raine Group arrives in big way as Softbank's adviser Tue, Oct 16 2012 Deals of the day -- mergers and acquisitions Mon, Oct 15 2012 Analysis & Opinion Softbank-Sprint tie-up gets bad signal from market Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » A woman uses her phone as she walks past a Sprint store in New York's financial district, October 15, 2012. Credit: Reuters/Brendan McDermid Thu Oct 18, 2012 8:07am EDT (Reuters) - Wireless carrier Sprint Nextel Corp (S.N) has acquired voting control of Clearwire Corp (CLWR.O) after buying out one of the company's other shareholders, Sprint said in a securities filing on Thursday. Sprint reached the deal with Eagle River Holdings on Wednesday and now controls a 50.8 percent stake in Clearwire, the filing said. The Clearwire deal comes less than a week after Sprint agreed to sell 70 percent of itself to Japan's Softbank Corp (9984.T) in a $20 billion transaction. Following that deal, analysts and investors widely expected Sprint to acquire or at least assume control of Clearwire, in which it already held a nearly 50 percent stake. FBR Capital Markets, in a note to clients Thursday, said the deal eliminates a major risk for Sprint, in that it can now control Clearwire's valuable spectrum assets and ensure unfettered access to them. (Reporting By Ben Berkowitz; Editing by Gerald E. McCormick) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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