Deals
Sprint Said to Increase Clearwire Stake for Board Control
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Sprint Nextel Corp., the company that has agreed to sell 70 percent of itself to Softbank Corp., acquired Eagle River Holdings LLC’s stake in Clearwire Corp., a move that gives it control over the wireless company’s board, according to people with knowledge of the matter.
The transaction could be announced in a regulatory filing as soon as today, said the people, who asked not to be identified because the deal is private. Eagle River held a 4.5 percent stake in Clearwire, data compiled by Bloomberg show. Based on yesterday’s closing share price of $2.26, the stake is worth about $69.9 million.