Clearwire Investor Will Ask FCC to Block Sprint Deals

Clearwire Corp. investor Crest Financial will ask the Federal Communications Commission to block Sprint Nextel Corp.’s takeover of the company, as well as a separate deal between Sprint and Softbank Corp., saying they undermine the value of Clearwire’s airwaves.

The firm plans to file its complaint with the FCC before the Jan. 28 comment deadline on the two transactions, David Schumacher, general counsel for Houston-based Crest Financial, said on a conference call with reporters today. The low price Sprint is getting for Clearwire’s spectrum could hurt the value of other airwaves, making it a concern for the FCC, he said.