Sprint makes formal offer of $2.1 billion to acquire Clearwire

Following reports of "active negotiations" recently, Sprint Nextel has put $2.1 billion on the table to fully purchase wireless provider Clearwire. The network already owns a majority stake, but would like full control of the company (and its spectrum), including roughly 12.4 percent collectively held by Intel and Comcast. Softbank, which itself wants 70 percent of Sprint, needs to clear the offer before it's truly official, and in a regulatory filing, Sprint says that the whole deal also hinges on Softbank's purchase going through (expected March or April next year). If all these necessities come together, the offer values Clearwire at approximately $4.2 billion.

Filed under: Wireless, Mobile, Sprint

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Source: Reuters, Bloomberg