In a report by the Wall Street Journal, Clearwire Corp is planning to seek financing assistance from Sprint Nextel. This move would certainly complicate the purchase offer of Dish Network for Clearwire.
Citing sources requesting anonymity but familiar with the transaction, Dish had made an offer for Clearwire's wireless broadband operations at US$3.30 per share. Clearwire though had earlier agreed to sell its interests to majority owner Sprint Nextel at US$2.97 per share. The board of Clearwire has appointed a special committee to review the offer from Dish.
One of the aspects of the Sprint deal would be the option to draw US$80 million of financing by March 1 and as the loan increases the interest stake of Sprint would increase commensurately. For its part, Clearwire had let US$160 million pass for January and February. Dish has made it clear that if Clearwire took the financing, the deal would be pulled from the table.
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