Verizon Offered Clearwire $1.5 Billion For Spectrum Leases
Verizon Complicates Sprint & Clearwire Deal For Own Amusement
Sources tell the Wall Street Journal
that Verizon is currently pursuing spectrum leases from Clearwire and is looking to pay $1.5 billion for any potential deals. Verizon is on record as already saying they face no spectrum shortage anytime soon
, so their offer appears intended to give Crest Financial, Clearwire's largest minority shareholder some added ammunition.
Crest is currently trying to scuttle
Sprint's proposed acquisition of Clearwire, calling the offer of $2.97 per share "inadequate." The Journal
report notes the offer was first disclosed in a Clearwire filing:
Clearwire disclosed the offer in a securities filing Friday, but only identified the bidder as "Party J." People familiar with the matter confirmed it was Verizon. The price would be reduced by the present value of what Clearwire pays to lease the spectrum, an amount that could be substantial, the company said in the filing.
The news comes as Dish's offer to buy Sprint came to light
, in addition to the DOJ's request
that the FCC try and limit the amount of additional spectrum AT&T and Verizon can acquire.