Unhappiness over Sprint’s Bid

.

Unhappiness over Sprint’s Bid

Sprint, which is number three U. S. service provider, is looking for ways to woo the partners but the task seems very difficult. Investors that hold 29% share in Clearwire Corp are not happy with the Sprint's bid.

Sprint holds 50% shares in the company. For the bid to take place, it requires approval from more than 50% shareholders. Investors, who have 29% of shares, 211 million, are not satisfied with the bid. If Sprint wishes to make this bid possible, then it requires approval of more than 362 million which seems to very tough right now.

Billionaire Charlie Ergen of Dish Network, made an offer of a $3.30 per share. This has created more pressure on Sprint to increase the bid. This deal has made it clear to the minority shareholders that a lot of discontent occurs because of the present bid of Sprint.

Mount Kellett, an investment firm with about 7.3% of Clearwire's minority shares said that with Dish's offer, it has been proved that the Sprint's bid is very less. Kellett said that Sprint's bid shall be voted down. Some minority investors have called Dish offer as the turning point of the bidding process.

 


Latest News

China Plans to Add Stimulus to Boost Economy
Stocks of Sears Drop to 52 Week Low as its CEO Offers Loan of $400 million
Link established between baldness, prostate cancer
Cervical cancer can be checked through urine test
Legalisation of medical cannabis gets Tony Abbott’s support
Risk of heart disease can be increased by working for longer hours
Australian goldfish is recovering ‘swimmingly well’ following surgery
5:2 diet again in limelight
Babies born in winter crawl earlier
Indian teenager created an $80 breath-to-speech device
Google launches new line of entry-level $100 Android One smartphones in India
Penalty for PG&E in California Pipeline Disaster Case May be The Largest in Stat