Sprint acquires controlling stake in Clearwire
Sprint Nextel has secured control of Clearwire, the wireless network operator that holds valuable spectrum, according to a regulatory filing on Thursday.
The filing shows that Sprint agreed on Wednesday to acquire the interests in Clearwire held by Craig O. McCaw’s Eagle River Holdings. The transfer of Class A shares and Class B interests gives Sprint a majority stake of 50.8 percent of Clearwire.
The agreement simplifies a relationship with Clearwire that has complicated Sprint’s attempts to overhaul its network. It comes as Sprint is preparing to sell a 70 percent stake in itself to the big Japanese cellphone provider and Internet company SoftBank, for $20.1 billion.
