Softbank won't let Sprint spend a fortune on Clearwire deal
Reuters reports that Softbank, which is in the process of acquiring 70% of Sprint, isn't going to let the number 3 wireless carrier in the US spend more than $2.97 a share for Clearwire. Although there's yet to be any official statement on the matter, it might turn out that the price is not high enough, as a number of investors have reportedly said that a per-share price of $5 to $8 would be much more appreciated by Clearwire. While we're absolutely certain that this is so, we aren't convinced that Sprint would want to pay so much for a company that's been in the red for quite a while.
We'll see how the story will develop and will update you accordingly.