Tag - Clearwire
Mobile data provider FreedomPop has launched its free cellular service for smartphones, one it revealed in July. The service, which provides a free allocation of data, voice minutes and text messages each month, similar to its existing free Internet hotspot service, with the carrier using Clearwire's WiMax 4G phone network for coverage.
Sprint has received approval from Clearwire shareholders to acquire the rest of the company, on top of its existing share ownership. The proposal, increased to $5 per share before the shareholder's vote, will allow Sprint to buy the remainder of the company that it does not already own, ahead of the expected closure of the Sprint-Softbank acquisition deal.
As expected, the FCC has officially given the green light to the Softbank purchase of Sprint and the corresponding Sprint purchase of ClearWire. The statement from acting FCC chairwoman Mignon Clyburn said that the deal serves the public interest and will "accelerate the deployment of mobile broadband services and enhance competition."
The Federal Communications Commission will allow for the acquisition of Sprint by Softbank, according to a report. Members of the Commission have apparently voted on the purchase with two out of three commissioners voting for the deal, and all but effectively completes the $21.6 billion deal between the two carriers.
In response to Dish Network's latest $4.40 per share bid for Clearwire, Sprint Nextel grew its offer for the company to $5 per share. The move was immediately responded to by Clearwire changing its recommendation in favor of the newest offer, and signaled a shareholder vote for July 8, versus the old date of June 24.
Dish Network has halted its battle with Japanese carrier Softbank for Sprint, after failing to provide a final offer for a merger. The withdrawal now allows SoftBank to continue in its attempt to acquire Sprint, with a completion of the purchase likely to finish, thanks to Softbank upping its original $20 billion offer to $21.6 billion.
Verizon wants to lease spectrum from Clearwire, in order to improve its 4G LTE offering, according to reports. A filing with the Securities and Exchange Commission by Clearwire mentions an offer from "Party J," believed to be Verizon, for spectrum in a number of markets for between $1 billion and $1.5 billion collectively.
Confirming earlier reports of an acquisition in the offing, Sprint today announced that it would be taking full ownership of wireless broadband wholesaler Clearwire. The final price for the deal came in at $2.2 billion, just above earlier estimates that had Sprint paying $2.1 billion. That price represents a 128 percent premium to Clearwire's closing share price from October 10, the day before Sprint and Softbank's discussions were confirmed in the marketplace.
Sprint, the United States' third-largest wireless carrier, has offered to acquire Clearwire for $2.1 billion. Sprint already owns half of Clearwire, having acquired a controlling stake in the carrier in October of this year after buying $100 million worth of shares off of an investment firm. This new offer would give Sprint access a larger spectrum portfolio, an asset the carrier needs if it wants to realize its plan of taking on AT&T and Verizon for primacy in the American wireless market.
FreedomPop, maker of 4G WiMAX cases for iOS devices, is expanding into the home broadband Internet market, the company announced today. The firm that calls itself "America's new free Internet company" announced the pre-order availability of its new Hub Burst, a home modem providing free high-speed Internet for homes and small offices at speeds faster than typical DSL. FreedomPop, which has plans ranging from free to $29 per month, is currently accepting applicants to a beta program for the new service.