Tuesday, May 28, 2013

Clearwire Shareholder Opposes Sprint Offer

In the latest twist to the saga of the sale of Kirkland-based Clearwire, one of the firm's minority stockholders has come out against the proposal by Sprint to acquire the company. Crest Financial Limited, which says it is the largest minority stockholder of Clearwire, says it opposes Sprint's new offer, and has filed a challenge to Sprint's offer. Crest Financial says that sprint has unfairly "stacked the deck" in approval by including shareholders who have obligated themselves to support Sprint in its takeover efforts. Crest Financial wants competitive bidding for Clearwire.