Sprint all set to takeover Clearwire-CLWR & SFTBY

Sprint Nextel Corporation (NYSE:S) is making plans for Clearwire Corporation (NASDAQ:CLWR)’s business take over according to the news.

Sprint Nextel Corporation (NYSE: S), the third-largest U.S. carrier, is now evaluating the strategic studies to buy out the business of wireless partner Clearwire Corporation (NASDAQ:CLWR).

As it is said that, Sprint Nextel Corporation (NYSE: S) is in a plan to buy out the minority shareholders of Clearwire Corporation (NASDAQ: CLWR). Sprint Nextel Corporation (NYSE: S), which already owned more than 50% of Clearwire Corporation (NASDAQ: CLWR)’s stock now desired to buy Eagle River Holdings LLC’s, a minority shareholder of Clearwire. Eagle River Holdings LLC’s is having 4.5% stake in Clearwire Corporation (NASDAQ: CLWR) at $2.97 a share in Oct.

The deal is projected to be announced at the end of the current year. Mr. Dan Hesse, the Chief Executive Officer of Sprint Nextel Corporation (NYSE: S) agreed that they are planning to buy out more investors in Clearwire Corporation (NASDAQ: CLWR). Sprint Nextel Corporation (NYSE: S) expect a cash influx from Softbank Corp. (Japan) (PINK: SFTBY), which intend to buy 70% of Sprint Nextel Corporation (NYSE: S) for about $20 million.

According to Hesse, they never miss a chance to take advantages in business opportunity. They always consider a deal at the right time with the right party if it falls in their interest. So anytime if there is an opportunity to take out a strategic investor, they will do. Hesse declared after the announcement of the deal with Softbank Corp. (Japan) (PINK: SFTBY) in Oct.

Scott Sloat, a spokesman for Kansas based Sprint Nextel Corporation (NYSE: S) as well Mike Digioia, a spokesman for the Washington-based Clearwire tight lipped on the matter.

Clearwire Corporation (NASDAQ: CLWR) shares went up to 15 percent to $2.77 after the talks. The stock was already up 24 percent this year as compared to last year through yesterday.

Clearwire Corporation (NASDAQ: CLWR) is up by 11.67% to close at $2.68.

Sprint Nextel Corporation (NYSE:S) is down by 1.59% to close at $5.57.

Softbank Corp. (Japan) (PINK: SFTBY) is down by 0.33% to close at $18.03.

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Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing. http://www.facebook.com/ben.rouss