UPDATE: Verizon (VZ) offered to buy spectrum from Clearwire (CLWR) - DJN
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Price: $39.78 --0%
Overall Analyst Rating:
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Dividend Yield: 6.5%
Revenue Growth %: +1.1%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 6.5%
Revenue Growth %: +1.1%
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(Updated - April 15, 2013 11:19 AM EDT)
Clearwire (Nasdaq: CLWR) is modestly lower Monday following reports that Verizon (NYSE: VZ) may have made bids to acquire more spectrum from the company.
The WSJ noted today that Verizon offered $1.5 billion for the spectrum, which would expand the company's coverage among bigger U.S. cities. The news comes as Clearwire is in a deal itself to be acquired by Sprint, which is also selling a majority stake in itself to SoftBank, though DISH Network (Nasdaq: DISH) came in with an offer today as well.
The price on the spectrum would be reduced by the present value of what Clearwire pays for the spectrum.
Verizon and AT&T (NYSE: T) control the largest amount of wireless spectrum in the U.S. The Justice Department, last Friday, issued a warning the Federal Communications Commission (FCC) that private companies shouldn't be allowed to corner future auctions of high-quality spectrum.
Clearwire is down 3 percent on Monday's session.
Clearwire (Nasdaq: CLWR) is modestly lower Monday following reports that Verizon (NYSE: VZ) may have made bids to acquire more spectrum from the company.
The WSJ noted today that Verizon offered $1.5 billion for the spectrum, which would expand the company's coverage among bigger U.S. cities. The news comes as Clearwire is in a deal itself to be acquired by Sprint, which is also selling a majority stake in itself to SoftBank, though DISH Network (Nasdaq: DISH) came in with an offer today as well.
The price on the spectrum would be reduced by the present value of what Clearwire pays for the spectrum.
Verizon and AT&T (NYSE: T) control the largest amount of wireless spectrum in the U.S. The Justice Department, last Friday, issued a warning the Federal Communications Commission (FCC) that private companies shouldn't be allowed to corner future auctions of high-quality spectrum.
Clearwire is down 3 percent on Monday's session.
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