Crest Financial Opposes Sprint Offer for Clearwire

Dec 13, 2012, 15:03 ET from Crest Financial Limited

HOUSTON, Dec. 13, 2012 /PRNewswire-USNewswire/ -- The following is a statement by Crest Financial Limited about Sprint's Offer to Buy Clearwire Corporation:

The $2.90 per share offer by Sprint for Clearwire today is the capstone in Sprint's ongoing effort to interfere with Clearwire's ability to operate as an independent company, to thwart the planned development of Clearwire's network, and to take Clearwire's valuable high-speed broadband spectrum for itself to the detriment of Clearwire's minority shareholders.

Crest Financial, a significant minority shareholder of Clearwire, intends to take whatever actions it can, including petitioning the Federal Communications Commission, to protect the rights of Clearwire shareholders against unfair dealing by Sprint and other parties, and to preserve competition in the market for broadband services.

SOURCE Crest Financial Limited