A better offer worth $2.2 billion represents premium worth in excess of 128 percent of the share price of Clearwire. After SoftBank invested in Sprint news spread out that Sprint would look for purchasing the wireless network operator.
51.7 percent of Clearwire is already owned by Sprint. Purchasing remaining of the shares will give total control over the spectrum that it could utilize to create its own network.
Owing to Softbank of Japan, Sprint is now able to complete the deal that took place in and was worth$20.1 billion. The deal has given control over lion’s share of the telecom company.
Sealing the deal means that Sprint will now be able to expand its long-term evolution network. The network is based on same data standard as used by the most recent smartphones. Clearwire has spectrum that resembles to SoftBank in Japan. It gives Sprint more strength to order the latest devices.