Crest wants FCC to keep Sprint, Clearwire apart

01/7/2013 | Bloomberg Businessweek · Reuters

Few analysts expect Crest Financial's intervention in Sprint Nextel's bid to buy the remainder of wireless service provider Clearwire to block the deal. Crest's general counsel told reporters Friday that the Clearwire investor will ask the Federal Communications Commission to block the deal. "By artificially pushing down the price of Clearwire spectrum, Sprint and Clearwire threaten to devalue future government auctions of spectrum," said Crest general counsel David Schumacher. The investing group has already filed a class action suit to stop the purchase.

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Bloomberg Businessweek · Reuters

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