FCC approves SoftBank’s Sprint offer
The US Federal Communications Commission (FCC) has approved Japanese operator SoftBank’s proposed takeover of US operator Sprint. The Commission decided that the transaction will serve public interest.
The US Federal Communications Commission (FCC) has approved Japanese operator SoftBank’s proposed takeover of US operator Sprint. The Commission decided that the transaction will serve public interest.
US satellite player Dish Network has announced that it is withdrawing its offer to acquire all of the outstanding shares of in wimax player Clearwire. Dish cited Clearwire’s recent decision to recommend a rival offer from mobile operator Sprint as a key reason it has opted to withdraw its offer.
Shareholders in US operator Sprint have voted overwhelmingly in favour of a takeover bid from Japan’s Softbank. Approximately 98 per cent of shareholders voted for the merger after the Japanese firm increased the value of its offer earlier this month by $1.5bn to $21.6bn.
Sprint has filed a lawsuit in a bid to block the acquisition of 49.8 per cent of Clearwire by Dish Networks. The suit, which alleges that Dish’s tender offer for Clearwire is unactionable, is the latest twist in the story of Sprint’s evolution and Dish’s desire for US spectrum assets.
The board of directors at US wimax (and proposed LTE) operator Clearwire has unanimously voted to recommend an offer from US satellite provider Dish Network, rather than mobile operator Sprint. Dish Network has offered to acquire all outstanding common shares of Clearwire at a price of $4.40 per share while Sprint offered just $3.40 per share.
Fresh from its attempt to scupper a potential deal between US operator Sprint Nextel and Wimax operator Clearwire, Dish Network is now going right for the source with a $25.5bn offer to merge with Sprint.
US satellite player Dish Network Corporation is aiming to scupper a potential deal between national mobile operator Sprint and Wimax operator Clearwire. The firm has confirmed it has made a bid for the latter, to purchase all of the Clearwire common shares at $3.30 – which represents more than the $2.97 offered by Sprint.
US operator Sprint has confirmed that it will acquire 100 per cent of US WiMAX player Clearwire for $2.2bn. Sprint already owns a 50 percent stake in the firm and will now purchase the remaining shares for $2.97 each.
The ability to deliver a superior experience for mobile video will be key to Clearwire’s success, its CTO John Saw has said. Speaking at the LTE North America conference, Saw described video as “the closest thing for a potential killer app for 4G”, due to viewing via LTE being quantitatively better than 3G.
A US start-up is aiming to disrupt the wireless broadband market with its commitment to deliver free 4G services to its users. FreedomPop has launched the beta version of its service and will be offering 500MB of free data usage to each of its customers using US wholesale operator Clearwire’s WiMAX network.
China Mobile has signed deals with Ericsson and ZTE to help build its converged LTE-FDD/TDD network in Hong Kong. The operator has signed contracts with both vendors for the project after acquiring spectrum in the 2330MHz-2360MHz band. The network will cover Hong Kong Island and Kowloon and the converged network is due to be launched in the fourth quarter of the year.
Poor old Sprint Nextel. The firm is facing a “very legitimate risk” of bankruptcy in the next four years, according to one (attention seeking?) financial analyst.
The world’s biggest carrier in terms of subscribers, China Mobile, is testing interoperability specifications for the time division flavour of LTE (TD-LTE) with US operator Clearwire.
US WiMAX player Clearwire has announced that it has raised $715.5m from its shareholders to fund its deployment of 4G LTE technology. The firm said it will use the funds for operations and maintenance as well as new network construction.
US WiMAX player Clearwire has announced a managed services deal with Ericsson, lending further weight to the expectation that the carrier will soon abandon WiMAX technology in favour of LTE, now established as a global standard. Ericsson also has a managed services deal with Clearwire parent Sprint, another carrier widely believed to be about to switch technological horses to LTE.
Clearwire has announced the postponement of plans to sell off radio spectrum this year in an effort to raise funds. Following record subscriber growth of 1.8 million in the first quarter of the year and a revenue increase of over $130m, CFO Hope Cochrane said that “With the near-term capital needs of our current business now satisfied, we will be extremely judicious with our spectrum assets.”
In a telecoms market not noted for competition, Mexico’s MVS Communicaciones’ announcement of plans to invest $1bn in an LTE network as part of a consortium that includes Clearwire and Intel should, in theory, shake things up. The consortium would sell access to its network to a variety of local players, including its rivals, opening up a market that has been dominated by billionaire Carlos Slim’s America Movil.
US carriers Sprint Nextel and Clearwire have come to an accord over their somewhat unhappy marriage in the US. The pair had been bickering over wholesale prices that Sprint pays to Clearwire for the resale of WiMAX services. In an amendment to their existing agreement, new wholesale pricing terms will see that Clearwire gets a minimum of $1bn from Sprint over the course of 2011 and 2012. This breaks down to a commitment of $300m in 2011, $550m in 2012 and $175m in pre-payments.
Years of speculation regarding T-Mobile USA’s future ended yesterday with the surprise announcement that AT&T is to buy the embattled telco for $39bn. Rumours regarding the possible sale of T-Mobile USA have been circulating for years but almost always worked on the assumption that the telco would unite with a smaller operator, such as Sprint or, more recently, Clearwire.
Bill Morrow, CEO of embattled US WiMAX player Clearwire, has resigned his position effective immediately, citing personal reasons. Chairman John Stanton will fill in as interim CEO while the firm searches for Morrow’s full-time replacement. Morrow will act as an advisor to the company during the handover.
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