PE Shareholder Presses Clearwire To Reject $100M Sprint Buy

Law360, New York (November 1, 2012, 4:43 PM EDT) -- A private equity firm with a sizable stake in Clearwire Corp. on Thursday urged the company to cover expansion costs by selling excess wireless spectrum rather than signing over control to Sprint Nextel Corp. in a proposed $100 million deal.

Mount Kellett Capital Management LP, which holds a 7.3 percent stake in broadband Internet provider Clearwire, said in a letter that Sprint’s proposed purchase price is too low and gives the prospective suitor an unfair chance to scoop up Clearwire’s extra wireless spectrum at a cut...
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