Clearwire delays shareholder vote on Sprint offer
Clearwire says it plans to delay a stockholder vote on Sprint's offer to buy the half of the wireless network operator that it doesn't already own.
Clearwire Corp. says a stockholder meeting that's scheduled for Friday will adjourn without conducting any business and will reconvene June 13.
In the meantime, Clearwire plans to talk with Englewood, Colo.-based Dish Network Corp. about the satellite TV operator's latest bid for the company.
On Wednesday, Dish offered $4.40 per share in cash for Clearwire, valuing the company at $6.9 billion. Sprint Nextel Corp. bid $3.40 per share for the half of the company it doesn't own.
Dish Network's executive vice president of corporate development, Tom Cullen, said in a written statement Thursday that Dish is pleased the stockholder vote is delayed.
© 2013 The Associated Press. All rights reserved.