Showing posts with label Car Broadband. Show all posts
Showing posts with label Car Broadband. Show all posts

Monday, January 07, 2013

Clearwire Investor Wants to Block Sprint Sale

Crest Financial, an investment firm that owns about 8% of Clearwire, it plans to ask the Federal Communications Commission to prevent Sprint from acquiring Clear.

Sprint owns just over 50% and is looking to acquire the remaining 49%. At issue is the price offered by Sprint for Clearwire.

Sprint bid $2.97 per share for a total of about $2.2 billion.

Crest believes its worth more $$$$$. Crest plans to argue to the FCC that by undervaluing Clearwire's spectrum, it could result in lost revenue for the government in future spectrum sales. 

Crest is also hoping to prevent Comcast, Intel, and Bright House Networks, which combined own 13% of Clearwire, from voting on the deal due to their close business ties with Sprint. The deal needs federal approval and the approval of both Sprint's and Clearwire's boards.

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Monday, December 17, 2012

Sprint Bids $2.2B, Clearwire Agrees

Sprint announced that it has agreed to acquire Clearwire for $2.2 billion. According to Sprint, the deal will put it in a better position for its LTE 4G plans moving forward, and help it to be a better competitor to AT&T and Verizon Wireless.

Wednesday, December 12, 2012

Sprint Wants to Aquire ClearWire

Sprint is seeking to purchase the remaining shares of Clearwire that it does not already own, reports the Wall Street Journal.

Citing sources familiar with Sprint's plans, the Journal says Sprint believes the acquisition could help it resolve control issues regarding Clearwire, in which it holds a significant stake. Sprint also wants Clearwire's vast spectrum holdings to supplement its future network plans.  

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Thursday, November 29, 2012

Sprint In-Car Velocity Broadband

Earlier this week Sprint unveiled their new Velocity in-car broadband service at the Los Angeles Auto Show. By adding broadband capability to vehicles they plan to provide drivers with entertainment, navigation, security and safety features. The first car manufacture to pick this system up is Chrysler, where you’ll find the UConnect system featured on the Ram pickup truck and Dodge Viper. According to the director of global wholesale and solutions, Tom Nelson say “Sprint Velocity is a whole new platform we built specifically for the automobile industry.” It will be tough to say how successful this platform will be as many users already have multiple Internet enabled devices, or simply use a portable 4G LTE router to share connectivity with all their devices for one fee.