Crest to ask FCC to keep Sprint and Clearwire apart

01/7/2013 | Bloomberg Businessweek · Reuters

Crest Financial's intervention in Sprint Nextel's bid to buy the remainder of wireless service provider Clearwire isn't likely to block the deal, an analyst says. Crest's general counsel told reporters Friday that the Clearwire investor would ask the Federal Communications Commission to block the deal. "By artificially pushing down the price of Clearwire spectrum, Sprint and Clearwire threaten to devalue future government auctions of spectrum," said Crest general counsel David Schumacher. The investing group has already filed a class-action suit to stop the purchase.

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Bloomberg Businessweek · Reuters

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