Investor seeks to block Sprint's buy out of Clearwire
0. phoneArena 04 Jan 2013, 22:22 posted on
A large Clearwire stockholder plans on using his clout to ask stateside regulators to block Sprint's purchase of Clearwire and at the same time, Crest Financial will ask the FCC to block the purchase of 70% of Sprint by Japan's Softbank; Crest has filed a class action suit on behalf of all Clearwire alleging that Sprint's $2.97 Offer for the half of Clearwire it does not own is too low...
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1. cripton805 (Posts: 1253; Member since: 18 Mar 2012)
Im sorry to say, but the guy is a moron. Either sell or go bankrupt. They are giving fair market. Obviously they are not going to pay more than what the company is worth. They accepted for a reason, and that is because the other companies are going to be looking for a steal once the company goes under. The other companies are not stupid and Sprint knows they need this as well, but aren't willing to get ripped off.
2. Izzy_V (Posts: 216; Member since: 07 Jul 2012)
"Im sorry to say, but the guy is a moron."
That's 99% of the 1% for you.
3. kindlefireowner (Posts: 497; Member since: 05 Dec 2011)
Sprint kept Clearwire afloat when everybody else bailed. So you should be happy to be getting 2.97 a share. Without Sprint his shares would be worth zero.
4. Slammer (Posts: 1498; Member since: 03 Jun 2010)
This is why many investors lose money. All they care about is what is coming to their wallets. Many don't even watch to see how their company is performing. As someone else pointed out, Sprint has been financially fostering Clearwire for quite sometime. Clearwire has been slowly reaching for life support. The stockholder should stay out of the way of turning the company around.
5. inertiatic (Posts: 33; Member since: 29 May 2012)
Crest needs to stay out of this and just concentrate on their toothpaste and other dental care products.
6. networkdood (Posts: 6330; Member since: 31 Mar 2010)
Clearwire sicks ...just sell it please...