Wireless

摘要

Clearwire urged its shareholders again Thursday to vote in favor of Sprint Nextel’s $2.2 billion buyoutnbid, which Clearwire’s board of directors said “delivers fair, attractive and certain value.” If shareholdersndo not approve the deal, “there is no assurance that your shares of Clearwire common stock will be ablento be sold for the same or greater value in the future,” Clearwire said. The board of directors noted thatnSprint’s bid has received the approval of proxy advisory firms Institutional Shareholder Services and Egan-nJones (http://bit.ly/12Ecdu2). Proxy firm Glass Lewis has recommended shareholders vote against the dealn(CD May 13 p14). Crest Financial, Clearwire’s largest minority shareholder, contacted Clearwire shareholdersnlate Wednesday, urging them to reject Sprint’s bid. Crest said it believes Clearwire and its spectrumnare the “ultimate prize in the intensifying battle for Sprint” — one in which the No. 3 U.S. carrier is attemptingnto extract “value from the Clearwire stockholders without offering them fair value.” Both SoftBank andnDish Network are attempting to buy majority control of Sprint, and they hope to quickly reduce the debt burdenncaused by that purchase in part by selling off Clearwire’s excess spectrum. That can only occur if Sprintnis Clearwire’s sole owner, Crest said. If shareholders are able to prevent Sprint’s buyout bid, they can keep Sprint from profiting from any spectrum sale at their expense, Crest said. Clearwire shareholders are set tonvote on Sprint’s offer Tuesday; Sprint currently owns 51 percent of Clearwire.