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San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Bellevue, Wash. — Clearwire postponed today’s shareholder vote on Sprint’s acquisition bid after Sprint raised its bid to quell opposition by some Clearwire shareholder groups.
In a last-minute attempt to ensure the deal goes through, Sprint raised its bid to acquire the approximately 50 percent of Clearwire that it doesn’t own to $3.40 per share, up 14 percent from Sprint’s December 2012 offer of $2.97 per share, or about $2.2 billion.
Dish had previously bid $3.30 per share to acquire all Clearwire stock.
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Overland Park, Kan. – Sprint is on schedule to shut down its 2G iDEN network at the end of June as announced last May to reduce operating costs and repurpose the spectrum for higher speed service, the carrier said.
The last full day of iDEN service will be June 29, when iDEN phones will no longer receive voice and data service or be able to make 911 calls.
Overland Park, Kan. — Sprint Nextel announced this morning that its board has formed a special committee of independent directors to review and evaluate the proposal received from Dish Network with its financial and legal advisors.
Dish proposed a $25.5 billion merger with Sprint Nextel on April 15, exceeding the bid by Japan’s SoftBank to buy the cellular carrier.
Englewood, Colo. — Dish Network has proposed a $25.5 billion merger with Sprint Nextel, exceeding the bid by Japan’s Softbank to buy the cellular carrier.
Satellite-TV provider Dish hasn’t formally withdrawn its offer to purchase cellular carrier Clearwire, which is majority-owned by Sprint but not controlled by Sprint. Dish said its offer for Sprint is not contingent on Sprint succeeding in its current bid to purchase the remaining Clearwire shares that it doesn’t own.
New York — The question of who will own the wireless carrier Clearwire has become more difficult to answer.
Sprint Nextel’s plans to buy carrier Clearwire is under fire from Clearwire’s largest minority shareholder, which launched a proxy fight opposing the takeover.
Sprint, which is Clearwire’s majority shareholder, wants to take over Clearwire to gain control over its spectrum to help Sprint build out its 4G LTE network. Dish Network, which is building its own terrestrial cellular network, has also put in a bid for Clearwire.
Overland Park, Kan. — Sprint announced plans to offer HTC’s flagship One smartphone on April 19, joining AT&T on that day in making the device available to consumers.
Sprint priced the LTE-equipped Android 4.1 One at $199 for the 32GB version in either black or silver.
HTC is banking on the success of the One to reverse its sales slide.
Overland Park, Kan. – Sprint expanded its selection of 4G LTE phones with the first LTE phone that it has ever launched at $49.
The ZTE-made Android-based Sprint Force is available through the carrier’s direct and indirect channels.
The launch expands not only Sprint’s selection of Android-based LTE phones but also its LTE-phone selection in general, a spokesman said. The carrier now offers 11 Android smartphones with 4G LTE as well as the 4G LTE iPhone 5.
Overland Park, Kan. – Sprint’s wireless operating losses grew in the fourth quarter and 2012.
Churn remained “elevated,” and the wireless subscriber base shrank for the second consecutive quarter even as the carrier’s iPhone sales accelerated in the quarter, the company’s financial report shows.
Overland Park, Kansas – Number-three cellular carrier Sprint entered into an agreement to purchase cash-strapped Clearwire for $2.2 billion to expand Sprint’s 4G LTE network capacity and compete more effectively against its two larger competitors, Verzion Wireless and AT&T.
Clearwire, which holds from 120MHz to 150MHz of spectrum in its markets, also gets a lifeline from Sprint, which agreed to provide up to $800 million of financing to Clearwire over 10 months beginning January.
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