Third-place carrier gobbles up Clearwire for $5 per share
Sprint has completed its acquisition of Clearwire, the U.S. carrier has announced. Sprint, which already held a majority stake in Clearwire, and is itself to be acquired by Japan's SoftBank, said in a press release today that it had purchased the company for $5 per share. As such, SoftBank will walk away with both Sprint and 100 percent of Clearwire when that transaction closes, something which is expected to occur tomorrow.
Today's news follows an aborted attempt by Dish Network to buy both Sprint and Clearwire — Dish abandoned its acquisition plans in mid-June.
Sprint will be looking to take advantage of Clearwire's spectrum holdings to further expand its LTE network.