Sprint this morning announced that, as rumored, it will pick up the rest of Clearwire for $2.97 a share, or about $2.2 billion. The purchase of the rest of Clearwire's shares (remember that Sprint already had a controlling stake) paves the way for "better strategic alignment and the full utilization and integration of Clearwire's complementary 2.5 GHz spectrum assets," Sprint said in a news release. That'll boost its LTE service -- but it'll take some time (and regulatory approval) before we see any real-world benefits.

Source: Sprint