Sprint gains majority stake in Clearwire after buying out another shareholder

Alex Wagner
Editorial Director of News and Content from  Omaha, NE
| October 18, 2012

Sprint logo

It looks like that SoftBank deal isn't the only big business transaction that Sprint will make during October. Sprint has gained voting control of Clearwire by purchasing shares from another holder. Sprint nabbed its shares from Eagle River Holdings, and thanks to this acquisition, Hesse and Co. now have a 50.8 percent stake in Clearwire.

Sprint and Clearwire have been working together for quite a while, and a one point last year it was rumored that Sprint was in talks to purchase Clearwire. This new move allows Sprint to gain voting control of Clearwire without straight-up buying the company. Now Sprint will have control over Clearwire and its spectrum, something that I'm sure both it and SoftBank are glad to have as they continue to look to grow Sprint's 4G LTE network. The full details of Sprint's acquisition can be found in a filing with the SEC, which is available below.

Via Reuters, The Next Web, SEC