NEW YORK, Dec 17: Sprint said on Monday it has reached a $2.2 billion deal to acquire the remaining shares it does not own in Clearwire, giving the number three US carrier valuable spectrum for expansion plans.

Sprint said in a statement it slightly boosted an offer announced last week, and that it would pay $2.97 per share.

The deal values Clearwire at $5.5bn. Clearwire’s board approved the transaction, Sprint said.

“Clearwire’s spectrum, when combined with Sprint’s, will provide Sprint with an enhanced spectrum portfolio that will strengthen its position and increase competitiveness in the US wireless industry,” said a Sprint statement.

Sprint chief executive Dan Hesse said the deal “marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services.”

Sprint, which is due to get a big capital injection from Japanese mobile carrier Softbank, gains control of Clearwire’s spectrum and broadband WiMax network, which is becoming more valuable with the surge of mobile internet use.—AFP