Reuters: Global Markets: Sprint offers $2.1 billion to buy rest of Clearwire

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Sprint offers $2.1 billion to buy rest of Clearwire Dec 13th 2012, 12:16 Tweet Share this Email Print Related News Sprint in talks with major Clearwire investors: sources Tue, Dec 11 2012 Related Topics Investing Simplified » 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 Dec 13, 2012 7:16am EST (Reuters) - Sprint Nextel Corp (S.N) is offering $2.1 billion to buy the rest of wireless internet provider Clearwire, to get full ownership of its wireless spectrum. The bid, at $2.90 a share for the 48.3 percent of Clearwire that Sprint Nextel does not already own, values Clearwire at around $4.2 billion. The proposed offer price represents a 5 percent premium to Clearwire' closing stock price on Wednesday, but is 20 percent higher than the closing price on December 10, the day before news of a possible bid leaked. The offer needs the approval of Japanese mobile company Softbank Corp (9984.T) and is contingent on the planned sale of 70 percent of Sprint to Softbank, Sprint said in the regulatory filing. (link.reuters.com/san64t) Clearwire's minority shareholders include Intel Corp (INTC.O) and Comcast Corp (CMCSA.O) who own around 12.4 percent between them. The No. 3 U.S. mobile phone carrier had a 51.7 percent stake in Clearwire as of December 11, up from the 50.8 percent on October 13. The offer, which Sprint said it would finance from working capital, is being evaluated by a special committee of Clearwire's board. (Reporting by Himank Sharma in Bangalore; Editing by Saumyadeb Chakrabarty and Rodney Joyce) 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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