Sprint Purchase Of Clearwire Under Fire

New York — The question of who will own the wireless carrier Clearwire has become more difficult to answer.
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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.

The latest wrinkle comes from Crest Financial, an investment firm that called Sprint’s offer of $2.97 per share cash “inadequate.”

Last December, Clearwire and Sprint agreed to Sprint’s $2.2 billion offer to buy the 49 percent of Clearwire that it didn’t own.

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