Clearwire Corp. will again tap financing from Sprint Nextel Corp. under their buyout deal, taking a $80 million draw for May that will be the last available before Clearwire shareholders vote on the deal.
Sprint Nextel Corp. is up to its neck in a merger fight, and it’s all about airwaves. But Sprint is waging another battle over a separate, lower-profile effort to buy the roughly 50 percent stake it doesn’t own in wireless-broadband operator Clearwire Corp.
Dish Network Corp.’s $25.5 billion bid for Sprint Nextel Corp. offers more value to shareholders than the wireless company’s original deal with Japan’s Softbank Corp., Sprint investor Paulson & Co. said Tuesday.
The U.S. government is seeking oversight of network-equipment purchases as a condition for approving Softbank Corp.’s $20 billion acquisition of U.S. phone carrier Sprint Nextel Corp., a move that appears to be aimed at keeping out Chinese suppliers like Huawei Technologies Co., people familiar with the matter said.
Sprint Nextel Corp.’s fourth-quarter loss widened and customer losses continued amid the continuing shutdown of its older Nextel network, as the company aims to turn around its business to compete with larger wireless rivals.
In a regulatory filing Friday, Clearwire said it opted not to tap financing made available by Sprint for February — a step that could have caused Dish to withdraw its proposal to buy Clearwire for $3.30 a share. Clearwire has agreed to sell itself to Sprint for $2.97 a share.
Dish Network Corp. has asked the Federal Communications Commission to halt the regulatory-review “shot clock” for Softbank Corp.’s plans to buy a 70 percent stake in Sprint Nextel Corp. for $20 billion.