Crest urges FCC to block Sprint, Clearwire deal

Crest Financial, a minority investor in US wireless broadband specialist Clearwire, has indicated that it will ask the Federal Communications Commission (FCC) to halt both Sprint Nextel’s proposed USD2.2 billion acquisition of Clearwire, as well as Softbank Corp’s USD20.1 billion deal to acquire 70% of Sprint. According to Fierce Wireless, Crest – which owns around 8.3% of WiMAX-turned-Long Term Evolution (LTE) operator Clearwire – plans to file a formal complaint with the FCC before the 28 January comment deadline on the two deals. Speaking during a conference call, David Schumacher, Crest’s general counsel, said: ‘Crest is optimistic that the FCC will take a close look at the transaction. By artificially pushing down the price of Clearwire spectrum, Sprint and Clearwire threaten to devalue future government auctions of spectrum’.