Trending: Amazon responds to investigation revealing thousands of banned and unsafe items on its marketplace

Shares of Clearwire are soaring in early morning trading after reports emerged that Softbank may consider buying a controlling interest in Sprint Nextel, one of the largest shareholders in the Bellevue provider of wireless broadband. According to Reuters,  Japan-based Softbank may be interested in Sprint in part because of Clearwire’s 2.5 Ghz spectrum holdings, which complement Softbank’s own TDD/LTE Network.

Even with the latest stock surge, shares of Clearwire are down nearly 10 percent on the year. It now has a market value of $2.57 billion.

Shares of Sprint are up more than 13 percent in today’s trading. The third largest U.S. carrier, with 56 million customers, is now valued at $17 billion.

A deal could come as T-Mobile bolsters its own offerings, agreeing earlier this month to buy MetroPCS.

“The asset (Sprint-Nextel) represents the only way for a potential new entrant to get a national presence immediately in the U.S., especially given T-Mobile’s recent signaling that it will reinvest in the market and no longer seems willing to sell itself near-term,” Wells Fargo analyst Jennifer Fritzsche said in a note picked up by Reuters.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline


Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.