Clearwire shareholders also finally approve buyout by Sprint

Update: Clearwire has just released an official statement as well regarding its agreement to be purchased by Sprint, indicating that the minority shareholders of the company "overwhelmingly approve" the transaction. 82-percent of the shares not affiliated with Sprint or SoftBank cast their votes in favor of the transaction, finalizing a deal that will have Sprint buy all shares of Clearwire it does not already own for $5.00 per share.

Original: Following regulatory approval of the merger by the FCC, SoftBank has released a statement today indicating that its strategic investment of $21.6 billion (JPY 1.8 trillion) in Sprint is expected to close on July 10th, 2013. While this isn't a complete confirmation, SoftBank feels it is confident enough in the timeframe to release an official statement. The deal will mark a huge investment, giving the Japanese carrier a 78-percent stake in Sprint and hopefully bringing new life into the nation's third-place challenger.

We can expect Sprint and SoftBank to quickly put the money to work on furthering its LTE rollout, as well as its overall network improvements. Together with new spectrum from the shutdown of its iDEN network and finally securing Clearwire's assets, Sprint certainly has a lot going for it.

Source: SoftBank; Clearwire


Reader comments

SoftBank expects $21.6 billion Sprint investment to close July 10


It will be interesting to see how this new Sprint operates. I suspect they may finally give Verizon and AT&T some real competition, as their network ramps up and their ability to acquire cool phones increases. I hope Hesse sticks around.

They have always had cool phones. In fact, Sprint has historically been perhaps the best carrier as far as getting good, recent, high-end Android phones. The EVO line is just one such example.

This should be interesting. It seems that Sprint and T-Mob are doing exciting things theses days. Verizon and AT&T, better do something to get some buzz going on their product offerings....otherwise people will begin to jump ship.......

I have no real data but I would imagine coverage is a huge reason people are with Verizon and ATT. A lot of those people probably wouldn't be able to even use Sprint or especially t-mobile.

Well Sprint has UNLIMITED data, but that's mostly a LOL since it so often doesn't work and when it does the 3G just crawls like a snail. :(

Same here, I consistently see more then 1mb download on the existing 3G where I'm at. While I'm looking forward to the LTE rollout in my area I also have come to expect from reading that my current connectivity will go to crap during the transition. I can live with it though because in the long run it will be much better.

I recently traveled to Kansas from Texas, and had pretty good speed in all of the cities. In fact, in a tiny little town in Kansas, just outside of KC, I got 23Mb down on a speed test. I had some pokey speeds in the middle of nowhere Oklahoma, but all in all, I was getting solid data speeds. I wasn't LOLing at all, all week.

Hope they pump it all to their upgrades so they can get back on schedule. The 3G is so slow I want to throw my phone across the room.

This is good news for Sprint customers although it'll take at least a couple of years for significant network changes to come online. The initial LTE rollout and iDEN repurpose is already funded and being executed on. It's not the kind of thing that can be easily accelerated. Clearwire's WiMax will need to be maintained through at least 2014. What I do expect to see happen is Sprint investing in or purchasing some of the smaller regional players. These are the carriers that you'd find yourself roaming on. They'd do this to expand their on-network presence. At this point they look like they have the spectrum they need. However they could probably use investment in backhaul. (Actually all of the carriers could use some work here.)

Sprint 4GLTE FTW!
People please don't forget that Sprint's new NV equipment is smaller and more powerful than the old stuff. The old equipment has to be taken offline and removed from cell sites which is what is taking the contractors so long in completing towers. Sprint has more work to do than other carriers because they aren't just adding more equipment, they are replacing and removing equipment for recycling.

Remember Sprint is a Green Company and they make sure to take out the trash.

Posted via my Totally Android Central Themed including FX Cased, Rooted Sprint GSIII named "White Dragon".

Very pleased about the way this deal has shaken out. Now if ony the new Sprint/Softbank can execute the upgrading/updating/expanding of their entire network smoothly, I'll stick with them for another 10+ years. Enjoying solid 4G LTE for the past month or so, so far so good.

I hope for only good things to come of this, especially if it means making their 3G service better, faster. Where I live, west Little Rock, AR, 3G is solidly fast, and I even got 4G LTE in one or two places recently. BUT, when I see family in Fort Smith, 3G is battery-killing slow and practically nonexistent in my old neighborhood. I expect better, and hopefully, will get better soon.

Sprint's phones (love my EVO LTE) are great, now they may get the network they deserve.