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Verizon Offered Clearwire $1.5 Billion For Spectrum Leases
Verizon Complicates Sprint & Clearwire Deal For Own Amusement
by Karl Bode 12:26PM Monday Apr 15 2013
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:
quote:
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.

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xenophon

join:2007-09-17

Didn't VZW sell 700Mhz B block...

...to ATT recently for about $2B?
slckusr
Premium
join:2003-03-17
Greenville, SC
kudos:1

didnt i read earlier

About the DOJ trying to keep Verizon out of the next auction..........
openbox9
Premium
join:2004-01-26
Germany
kudos:2

Re: didnt i read earlier

This isn't an auction.
BiggA

join:2005-11-23
EARTH

Makes no sense

This just makes no sense, every way around. Sounds like they are just trying to run the others out of money trying to buy Clearwire.
TBBroadband

join:2012-10-26
Fremont, OH
Reviews:
·AT&T U-Verse
·MegaPath

Re: Makes no sense

He who has the most money wins. And Sprint had their chance with Clear years ago and had their chance of building out the network, but they decided to become an MVNO and didn't want anything else. And now they undervalue the company and what its network is worth. If it wasn't for Clear, Sprint wouldn't really have a 4G network at all.

SteelerRaw

@timet.com

Re: Makes no sense

And if it wasn't for Sprint, Clearwire would be bankrupt. Let us also not forget that Sprint contributed a large portion of the 2.5GHz spectrum to the new Clearwire venture several years ago. It's all about perspective...