NEW YORK Majority owner Sprint has completed its acquisition of wireless network operator Clearwire Corp.
Sprint Nextel Corp. paid $5 per share for the 51 percent of Clearwire it didn't already own. Bellevue, Wash.-based Clearwire runs a mobile broadband network that Sprint uses to provide "4G" service on many of its phones.
Clearwire shareholders voted to sell to Sprint on Monday. Its stock will stop trading on the Nasdaq after the market closes on Tuesday.
Sprint hopes the deal will make it more competitive with rivals Verizon Wireless and AT&T Inc. It raised its original bid for Clearwire to overcome a competing bid from Dish Network Corp.
Meanwhile Overland Park, Kan.-based Sprint has agreed sell 78 percent of itself to Japan's Softbank for $21.6 billion. That deal is expected to close Wednesday.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.