will break down the barriers of traditional broadband service, offering consumers high-speed Internet without wires," added Bill Snoeberger, vice president of small markets for Clearwire
In connection with the transaction, Clearwire
has filed a Rule 13e-3 Transaction Statement and a preliminary proxy statement with the SEC.
While a majority of customers are simply making the jump to Sprint's LTE network (or a rival), the company is now facing a new lawsuit claiming the closure will affect hundreds of thousands of poor Americans by severing an existing deal Clearwire
had with two non-profits, Mobile Beacon and Mobile Citizen.
The merger agreement was first announced on December 17, 2012 and Clearwire
shareholders approved the transaction at a special meeting of stockholders held on July 8, 2013.
HOUSTON, June 11, 2013 /PRNewswire-USNewswire/ -- Crest Financial Limited, the largest of the independent minority stockholders of Clearwire
Corporation (NASDAQ: CLWR), sent a letter to Clearwire
's Board of Directors reiterating its view that DISH Network Corporation's tender offer for all outstanding shares of Clearwire
Verizon's offer further complicates a three-way series of deals in which Clearwire
had agreed to sell itself to part owner Sprint Nextel Corp.
We believe this agreement with Clearwire
provides us with an attractive option to supplement our own LTE build-out strategy and gives us the flexibility to access additional 4G capacity where needed as data-centric devices continue to become more popular.
actually has a WIMAX network that has been built, albeit it will be superseded by LTE which was not available when it was constructed.
also stands to bring in additional funds from Sprint Nextel, its majority owner and main wholesale partner.
Northwest Atlantic is working exclusively with Clearwire
to find up to 50 more sites in the area, many of which will open in the next six to nine months.
The new wireless broadband product is scheduled to be made available in Clearwire
markets during the second half of 2007.
Crest has also filed a lawsuit in Delaware against Sprint, Clearwire
, the directors of Clearwire
, and others because Crest believes that the defendants breached their fiduciary duties by scheming to extract value from Clearwire
at the expense of the minority stockholders.