Friday, October 12, 2012

Softbank, Sprint Deal Spurs Frenzy Around Clearwire

The deal brewing between Sprint Nextel Corp. and Softbank has spawned a huge frenzy around Bellevue-based 4G network operator Clearwire, sending the firm's stock up as high as 66% in trading Thursday after news of the deal. Softbank is apparently interested in buying a majority stake in Sprint for between $12.8 billion and $19 billion. Several reports believe that a significant reason for the deal is Clearwire, which is in the midst of transitioning its network to LTE, giving Softbank access to a 4G network in the US.