Sprint acquires a controlling 50.8% stake in Clearwire

Raymond Wong
These are the 10 highest paid executives in the wireless industry

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%.


Related stories

Sprint may not want to buy Clearwire after all

Sprint seeks an additional $2 billion from investors

Google to sell stake in Clearwire at a huge loss

Get more from BGR.com: Follow us on Twitter, Facebook