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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).
Comments (6)
  • BigAppleGuy
    , contributor
    Comments (124) | 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 (475) | 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 (124) | 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 (124) | 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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