Sprint, Clearwire moving closer to deal according to CNBC

by Jeff Causey on
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Reporting on CNBC’s Squawk on the Street, show host David Farber indicated negotiations between Sprint and Clearwire have been heating up in the last few days. Sprint, which already owns a majority interest in Clearwire, has been rumored to be working on a deal to buy out the remaining shareholders. Discussions with some of the other major parties, like Bright House, Intel, and Comcast, have been held in an effort to work through some of the complexities of a potential buyout. According to Farber’s sources, Sprint is trying to gain complete control over Clearwire in order to have access to Clearwire’s spectrum.

Sprint is poised to become a subsidiary of Softbank, probably in March or April 2013. Individuals familiar with the negotiations think the closing of the Softbank deal and the Sprint/Clearwire deal should occur at the same time. In order to provide appropriate notice, Sprint will likely need to issue a statement before the end of the year. Clearwire’s debt holders noted the company did not call First Lien Notes yesterday, adding to the speculation that Clearwire does not anticipate being an independent company for much longer.

source: CNBC

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