Sprint CEO Dan Hesse.
(Credit: Lynn La/CNET)
Sprint Nextel took another step toward securing its future by coming to an agreement with Clearwire to buy all of the remaining shares it didn't already own.
The deal gives Sprint full control of Clearwire's impressive swath of spectrum, as well as its existing 4G WiMax network, which the company was planning to upgrade to 4G LTE next year. It also ends years of drama between the two companies, with Clearwire getting absorbed into Sprint.
So why does this matter? This deal has ramifications for consumers of both Sprint and Clearwire, and could have an impact on the broader wireless industry. The two will ultimately be controlled by SoftBank when it takes over next year. CNET answers all of your questions here.
So what's going on? After months of talk and speculation, Sprint finally pulled the trigger and struck a deal to buy the 49 percent of Clearwire stock it didn't already own, bringing it under its full control. Under the deal, Sprint will pay $2.2 billion, or $2.97 a share, to scoop up the rest of Clearwire.
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