Feeds

Dished! Clearwire hops into bed with Sprint

Just have to spend all this money on boat drinks, I guess

SANS - Survey on application security programs

Sprint has upped its offer for Clearwire, outbidding Dish and signing a deal which requires Clearwire to cough up $115m if the acquisition fails for any reason – outmanoeuvring Dish yet again.

The Clearwire board had voted in favour of the Dish offer, which at $4.40 per share was a dollar up on Sprint's original bid.

But this time Sprint has 45 per cent of the existing shareholders on side, with an offer of $5 a share. That was enough to get Clearwire signed up to a $155m lock-in clause, along with an agreement to hold a vote as soon as practical; all for an offer which values Clearwire at a shade over $14bn.

Sprint is already Clearwire's majority shareholder, but this deal will give the operator complete control of Clearwire and unrestricted access to its radio spectrum.

Dish really wanted that spectrum, a vital component in its bid to build a new national phone network across America. It wanted Sprint, too, gaining infrastructure for that network, but was outbid and outmaneuvered by SoftBank which now looks almost certain to take control of Sprint.

That leaves Dish holding a whole pile of borrowed money, and few ways to turn it into telephony gold. Just like LightSquared before it, Dish has found that getting into the mobile telephone business is much harder than it looks. ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.