Top Clearwire executives appear set to rake in millions of dollars from stock payments if Sprint Nextel's bid to buy the roughly 50 percent of Clearwire it does not already own gets approved by Clearwire's minority shareholders.
MetroPCS shares have fallen 27 percent since the company's transaction with T-Mobile USA was announce in October, noted a Wall Street Journal article. Although that decline could open the door for other companies to step in and make their own counterbids for MetroPCS, the list of potential suitors appears to be notably short.
Investors and financial analysts generally agree that Sprint Nextel will need to increase its $2.90 per share offer, or $2.1 billion, to buy the 49 percent of Clearwire that it doesn't already own. Yet many analysts think Sprint will ultimately seal the deal because Clearwire's vast spectrum holdings are too valuable to leave on the table.
Research In Motion's stock enjoyed a boost after investment bank Goldman Sachs upgraded the stock from "neutral" to "buy," bullish on the prospects of RIM's forthcoming BlackBerry 10 platform.
Clearwire ( NASDAQ:CLWR ) said it agreed to sell up to $300 million in shares as part of an equity infusion, and has contracted with financial services firm Cantor Fitzgerald to conduct the sale,
Google ( NASDAQ:GOOG ) revealed that it lost hundreds of millions of dollars on its investment in Clearwire ( NASDAQ:CLWR )--but its losses were slightly less than originally expected. In a recent
Google ( NASDAQ:GOOG ) filed with the Securities and Exchange Commission to sell its entire financial stake in Clearwire ( NASDAQ:CLWR ) for $47 million, a steep loss on the $500 million investment
Chinese vendor ZTE saw its shares plunge in trading amidst a spate of market rumors, all of which it denied. The company's shares fell 12 percent in trading in Hong Kong to their lowest levels since
Clearwire ( NASDAQ:CLWR ) plans to raise a total of at least $595 million in stock offerings as it seeks to bolster its balance sheet ahead of its planned LTE network buildout. Clearwire said it will
Nokia's ( NYSE:NOK ) shares continued to tumble as a wave of analysts downgraded their outlook on the company after Nokia warned of a slowdown in second-quarter profits and sales. Nokia's shares were