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Tuesday, Dec 11
2012, 12:10 PM
Sprint (S -1%) and Clearwire (CLWR +13.1%) are "moving closer" to a deal in which the former...
Sprint (S -1%) and Clearwire (CLWR +13.1%) are "moving closer" to a deal in which the former would buy the 49% of the latter it doesn't own, sources tell David Faber. He adds Sprint has been talking with Clearwire shareholders about buying their stakes for ~$3/share, and that a deal could be announced by year's end. Clearwire has spiked to $2.72, while MetroPCS (PCS -1%) has ticked lower. PCS was clocked last week after Reuters reported Sprint is unlikely to make a bid before its SoftBank (SFTBF.PK) deal closes. Update: The WSJ backs up Faber's report.