Crest Financial Limited, the largest Clearwire (NAS: CLWR) shareholder not affiliated with Sprint Nextel (NYS: S) , has proposed in a letter to Clearwire's board a financing arrangement "superior to the financing provided by Sprint Nextel Corporation," one that would allow the company to explore merger options other than Sprint's offer, according to a Crest announcement.
Crest would like Clearwire instead to consider selling its excess spectrum to DISH Network (NAS: DISH) rather than give it up to Sprint for what Crest feels is less than what that spectrum is worth.
Crest's offer of $240 million in convertible debt, along with the $160 million in financing Clearwire has already received from Sprint, would give Clearwire enough capital to complete its planned build-out of 2,000 LTE sites plus an additional 2,133 LTE sites for its network, according to Crest.
The article Clearwire Shareholder Offers Finance Deal originally appeared on Fool.com.
Fool contributor Dan Radovskyhas no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.