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

1,200 Pounds of Ground Beef Recalled by Ranchers Legacy Meat Company Due to E. c
Uber Needs to Mend Ways to Correct its Image
Amazon Fire TV Stick will offer stiff competition to Neflix and Hulu Plus
New Chromebook buyers get 1TB free Google Drive storage space
China Adds Fresh Stimulus to Pep Up Growth
End of Harvest Season Results in Job Losses in Farming Sector
WalletHub Released a List of Best Deals on Black Friday
Massachusetts Regulators to Decide on Issue of Limiting time and Money for Gambl
More People Are Expected to Travel by Road during the Thanksgiving Holiday, due
Sotheby’s CEO, William Ruprecht to Step Down
Alibaba does well in the American Bond Market
Target's Holiday Season Sales Expected to Fetch Good Results