Sprint acquires a controlling 50.8% stake in Clearwire

Raymond Wong
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With Softbank (SFTBY) acquiring a 70% stake in Sprint (S), it was speculated by Bloomberg that the latter would be unlikely to push on with its efforts to buy  a controlling stake in Clearwire (CLWR). Reuters is now reporting that Sprint has “acquired control of Clearwire Corp after buying out one of the company’s other shareholders,” however. Sprint will purchase 31 million Class A shares and approximately 2.7 million Class B shares from Eagle River Holdings to boost the carrier’s total stake in Clearwire to a controlling 50.8%.

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