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Crest Financial, which owns 8% of Clearwire (CLWR), intends to ask the FCC to block Sprint's (S)...

Crest Financial, which owns 8% of Clearwire (CLWR), intends to ask the FCC to block Sprint's (S) acquisition of the approximately 50% of Clearwire it doesn't own and the sale of 70% of Sprint to Japan's Softbank. Crest says the $2.2B Sprint-Clearwire deal "grossly undervalues Clearwire" and therefore the operator's spectrum holdings, which would hurt government revenue from auctions of licenses. The Crest request would add to one from Dish (DISH).
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Comments (6)
  • BigAppleGuy
    , contributor
    Comments (173) | Send Message
     
    I don't see FCC blocking this deal. The offer was at a premium to Market Value. Not long before their offer CLWR was trading under under $1.
    6 Jan 2013, 09:41 AM Reply Like
  • Leeeee
    , contributor
    Comments (2) | Send Message
     
    BigAppleGuy...it may be a premium to you because, obviously you don't own long term shares of the Company, but to those of us who do....2 years ago their shares were selling at 8 dollars a share, in which i invested heavily, it is a GROSSLY under valued stock. I only hope more investors join the suit to stop the theft of the spectrum.
    6 Jan 2013, 02:28 PM Reply Like
  • milehr
    , contributor
    Comments (526) | Send Message
     
    You are confusing FCC with SEC, BigAppleGuy. FCC does not care what S would pay for CLWR.
    7 Jan 2013, 09:25 AM Reply Like
  • BigAppleGuy
    , contributor
    Comments (173) | Send Message
     
    A lesson to all. Whenever you go long you should utilize a stop-loss order. I have never lost more than 7% on a common trade.
    7 Jan 2013, 09:38 AM Reply Like
  • BigAppleGuy
    , contributor
    Comments (173) | Send Message
     
    The Federal Communications Commission (FCC) regulates interstate and international communications by radio, television, wire, satellite and cable.
    They are the ones whose approval will allow this purchase.
    7 Jan 2013, 09:40 AM Reply Like
  • william B
    , contributor
    Comments (26) | Send Message
     
    Suck it up Leeeee, when you don't do your homework!!!
    6 Jan 2013, 07:49 PM Reply Like
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