Telco acquisitions are starting to seem like Matryoshka dolls, following news from today’s Sprint shareholder meeting.
98 percent of the company’s shareholders approved an acquisition offer by Japan-based wireless carrier SoftBank Corp. The deal, which is still waiting for the approval of the Federal Communications Commission, totals more than 21 billion dollars, with $16.64 billion available as a cash consideration to shareholders.
This news comes as Sprint is still tangled up in acquisition talks with Clearwire. Last week, Sprint increased its offer for Clearwire to 5 dollars a share, which gained the support of Clearwire’s board. A Clearwire shareholders’ meeting on July 8 in Bellevue will decide the fate of that proposal.
Previously on GeekWire: New Clearwire bid from Sprint tops offer from Dish
Blair Hanley Frank is a technology journalist based in the San Francisco Bay Area. He has also worked for Macworld, PCWorld and TechHive. He can be found on Twitter @belril.