Clearwire (CLWR +6%) treks higher after Mount Kellett Capital, which owns 7.3% of the carrier,...

Clearwire (CLWR +6%) treks higher after Mount Kellett Capital, which owns 7.3% of the carrier, issues a letter voicing concerns about Sprint's (S +0.8%) Eagle River share purchase, which leaves it with a majority stake and board control, and the potential for a conflict of interests. Mount Kellett wants Clearwire to "sell a substantial portion of the Company's excess spectrum," something Sprint may not be keen on doing. (also)

From other sites
Comments (5)
  • PeakOiler
    , contributor
    Comments (299) | Send Message
    The Mount Kellett boys also own a big chunk of Baja mining (BAJ) on the TSX, which has gone from 1.00 to 0.10 during the past several months. Sooo, let's get some back by goosing CLWR.
    1 Nov 2012, 02:40 PM Reply Like
  • Headcoach
    , contributor
    Comments (419) | Send Message
    So what, they are not the "Shareholders"! There are a sh*t load more (greater than) Mt.Kellett and they DO NOT SPEAK FOR ME!


    What makes the company worth having is their Spectrum. They sell the Spectrum and you only have another "Dog with Fleas" stock.


    But the boys over at Kellett must be thinking of another Telecom to help....hum which one? Come on Kellett, lay your hand on the table and lets see the true meaning of this so called letter.
    1 Nov 2012, 03:17 PM Reply Like
  • Joshua007
    , contributor
    Comments (48) | Send Message
    I agree with head coach, they want the stock to appreciate so they can make back some of their losses, but that is not in Clearwire's best interest. Because of the type of spectrum Clearwire has, they could never economically deploy a truly nationwide service. 2500-2600MHz spectrum will only ever be used in dense urban environments, and since there is usually decent coverage by all carriers, they need to differentiate themselves by offering more speed & capacity than their competitors. If they sell their spectrum they lose all of their competitive advantage!
    1 Nov 2012, 04:22 PM Reply Like
  • milehr
    , contributor
    Comments (603) | Send Message
    What Mt. Kellet wants may not be in the best interest of CLWR longs. Anyhow, it is SoftBank's call now, and if I am right about their strategy, CLWR will need all the spectrum it got.
    2 Nov 2012, 12:31 PM Reply Like
  • Erb69
    , contributor
    Comments (161) | Send Message
    Crest Financial who also owns about 7% of Clearwire just sent a letter to Mount Kellett Capital suggesting "In addition to the sale of excess spectrum that you proposed in your letter, Crest believes that immediate steps to raise capital through the offering and sale of additional common shares would be among the steps a board of directors, acting in the best interests of all shareholders, would pursue.".
    7 Nov 2012, 10:48 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs