Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

US Sprint increases offer to acquire Clearwire to USD2.2b  Join our daily free Newsletter

MENAFN - 18/12/2012

No. of Ratings : 0
Add to Mixx!


 


(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.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help