(MENAFN) US Sprint Nextel Corp. stated that it has raised its offer to acquire the remaining 50 percent stake in Clearwire that it doesn't own to USD2.2 billion, reported AP.
The third-biggest cellphone firm in the country said that the acquisition will boost its access to the airwaves; meaning that it could increase data speeds in coming years.
Moreover, the company will gain control of the struggling affiliate, which it relies on to provide high-speed Sprint 4G data services on some of its phones.
Still, the deal needs to be approved by a majority of Clearwire's minority shareholders, however, several shareholders, including cable companies Comcast Corp. and Bright House Networks, in addition to chipmaker Intel Corp. have consented to approve the deal.
It is worth noting that Kirkland, Wash.-based Clearwire Corp. was established by cellular pioneer Craig McCaw to benefit from an emerging wireless technology, WiMax, which provided higher speeds and lower costs than usual cellular technology.