The FCC will not flat out bar Sprint from bidding on H Block. But they may require them to divest some EBS/BRS spectrum. And divesting EBS spectrum is easy. You just terminate the lease with these schools and pay the fee. They don't have to sell it. Let the schools figure it out.
On another note, SoftBank's cap of $2.97 is a smart move. Clearwire right now is at its maximum value. Over the next few quarters, it will likely decline. Because without Sprint, Clearwire is hemorrhaging money and will run out of cash next year. As the dire circumstances of Clearwire's financial position becomes clearer in 2013, the stock will start dropping. All of Clearwire's value is because of Sprint.
Just because Mount Kellet et all believe they can squeeze out $4 or $5, doesn't mean that its worth that. How much would Clearwire go for on the open market with all its debt? Nothing. Clearwire's only value is in spectrum, which no one wanted the last time they tried to sell it. And Clearwire's spectrum is probably worth less than its debt when any reasonable value is assigned to it. Sprint's deal is the only thing on the horizon that will make shareholders money.
Guaranteed $3 today, or the promise of $4 next year after a bad string of monthly financials, loss of WiMax customers, and cash burn? The fundamentals for long term Clearwire investing maintaining the status quo are not there. And even Mount Kellet has to know that. I'll take my $2.97, please.
Robert via Nexus 7 on Tapatalk