Study: Clearwire Spectrum Worth Two to Three Times More than Sprint Bid PR Newswire HOUSTON, Feb. 26, 2013 HOUSTON, Feb. 26, 2013 /PRNewswire/ --An independent study by experts at Information Age Economics (IAE) indicates that the true value of the wireless spectrum owned by Clearwire Corporation is two or three times higher than the value reflected in the price Sprint has offered to pay to acquire Clearwire. According to a new filing with the Federal Communications Commission by Crest Financial Limited, Sprint's $2.97-a-share offer for Clearwire represents a value of $0.21 per MHz-POP for Clearwire's spectrum. IAE's study, which is based on comparable recent transactions and broadband market forces, states that a more appropriate range for the value of Clearwire's spectrum would be between $0.40 and $0.70 per MHz-POP. The IAE report, which Crest commissioned and attached to its new filing with the FCC, also states that Sprint's valuation of Clearwire fails to take into account that Clearwire's 2.5 GHz Band is Sprint's only remaining option to keep pace with such national competitors as Verizon, AT&T and T-Mobile, which makes Clearwire's spectrum more valuable to Sprint than it otherwise would be. To read the IAE report and Crest's FCC filing click here: http://www.bancroftpllc.com/crest-financial-ltd-files-petition-to-deny-with-fcc/ Crest's FCC filing also contends that the proposed Sprint/Clearwire merger would harm the public interest at a time of spectrum scarcity. Crest contends that FCC approval of the proposed merger would delay spectrum deployment andexacerbate "spectrum crunch" at a time of severe scarcity. The merger would contradict the FCC's stated mission to maximize spectrum availability for public consumption. What's more, it would place the country's largest remaining spectrum portfolio in hands least equipped, by past example, to serve the best interests of the United States and its wireless consumers. Crest Financial, which currently owns 8.34 percent of Clearwire's outstanding Class A stock, has sued Sprint and Clearwire's board of directors for conspiring to intentionally lower the value of Clearwire's high-speed, broadband spectrum so that it could acquire Clearwire at an artificially depressed price. Crest's lawsuit states that Sprint's intentions are to the financial detriment of Clearwire's minority shareholders, and contrary to the commercial interests of the public. SOURCE Crest Financial Limited Contact: Jeffrey Birnbaum, BGR Public Relations, +1-202-661-6367
Study: Clearwire Spectrum Worth Two to Three Times More than Sprint Bid
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