Crest Financial, Clearwire’s largest minority shareholder, filed a preliminary proxy statement Wednesday at the SEC in which it urged Clearwire shareholders to vote against Sprint Nextel’s proposed buyout of Clearwire. Sprint wants to purchase the remaining 49 percent Clearwire stake it doesn’t already own for $2.2 billion. Crest has previously declared its opposition to the deal on grounds that it undervalues Clearwire’s spectrum assets. Crest has also filed a petition with the FCC to deny Sprint’s Clearwire deal and SoftBank’s proposal to buy 70 percent ownership of Sprint, arguing that both deals run counter to the public interest. Crest said in the proxy it believes “it would be better for Clearwire to remain a stand-alone company, while examining opportunities to consummate alternative transactions, rather than accept” Sprint’s bid. Clearwire said it also continues to examine a competing bid by Dish Network, though it has accepted $160 million in debt financing from Sprint since the beginning of the year. Sprint’s proposed Clearwire deal included an offer of $800 million in financing over 10 months. Crest is attempting to stop Clearwire’s use of Sprint financing by offering $240 million in financing of its own, which it believes “would also provide Clearwire’s board with more time to consider the proposed merger with Sprint.” A Sprint spokesman said his company had no comment.
A group of almost 40 House lawmakers signed on to an antidumping and countervailing duty evasion bill, introduced April 9, that bears many of the same provisions of the 2011 Senate ENFORCE Act, a component of customs reauthorization bills currently in the House and Senate. HR-1440, sponsored by Rep. Billy Long, R-Mo., sets up timelines CBP must follow when dealing with AD/CVD evasion, as does ENFORCE.
Crest Financial, Clearwire’s largest minority shareholder, filed a preliminary proxy statement Wednesday at the SEC in which it urged Clearwire shareholders to vote against Sprint Nextel’s proposed buyout of Clearwire. Sprint wants to purchase the remaining 49 percent Clearwire stake it doesn’t already own for $2.2 billion. Crest has previously declared its opposition to the deal on grounds that it undervalues Clearwire’s spectrum assets. Crest has also filed a petition with the FCC to deny Sprint’s Clearwire deal and SoftBank’s proposal to buy 70 percent ownership of Sprint, arguing that both deals run counter to the public interest. Crest said in the proxy it believes “it would be better for Clearwire to remain a stand-alone company, while examining opportunities to consummate alternative transactions, rather than accept” Sprint’s bid. Clearwire said it also continues to examine a competing bid by Dish Network, though it has accepted $160 million in debt financing from Sprint since the beginning of the year. Sprint’s proposed Clearwire deal included an offer of $800 million in financing over 10 months. Crest is attempting to stop Clearwire’s use of Sprint financing by offering $240 million in financing of its own, which it believes “would also provide Clearwire’s board with more time to consider the proposed merger with Sprint.” A Sprint spokesman said his company had no comment.
Google appears set to launch its own experimental network in the 2524-2625 MHz band, which could be a prototype for future operations in 3.5 GHz spectrum. The FCC launched a rulemaking in December aimed at opening the 3550-3650 MHz band for shared use and use by small cells. Google had no comment, a spokeswoman said Wednesday.
Google appears set to launch its own experimental network in the 2524-2625 MHz band, which could be a prototype for future operations in 3.5 GHz spectrum. The FCC launched a rulemaking in December aimed at opening the 3550-3650 MHz band for shared use and use by small cells. Google had no comment, a spokeswoman said Wednesday.
CBP is considering continuing education requirements of 40 hours every three years for customs brokers to maintain their licenses, said Elena Ryan, director of Trade Facilitation and Administration at CBP, who spoke via telephone at the National Customs Brokers and Forwarders Association of America conference April 10 in California. The requirement would amount to about an "hour a month" and it would be up to the broker to decide how they want to spread it out, she said. The framework, which is still in very "preliminary stages" was developed by CBP and the NCBFAA as part of the ongoing review of 19 CFR 111 regulations. The issue has been one of the more controversial aspects of the review (see 13031422).
Google appears set to launch its own experimental network in the 2524-2625 MHz band, which could be a prototype for future operations in 3.5 GHz spectrum. The FCC launched a rulemaking in December aimed at opening the 3550-3650 MHz band for shared use and use by small cells. Google had no comment, a spokeswoman said Wednesday.
Registration for NARUC’s next meeting starts April 15 (http://bit.ly/XBCACQ). It takes place in Denver, July 21-24. The preliminary agenda lists panel discussions on cybersecurity and the country’s progress with the National Broadband Plan.
The Commerce Department issued the final results of the countervailing duty administrative review on kitchen appliance shelving and racks from China (C-570-942), which sets a CV cash deposit rate of 12.06 percent for New King Shan (Zhuhai) Co., Ltd. This rate is effective April 11.
The Commerce Department issued a countervailing order on drawn stainless steel sinks from China (C-570-984). The order details a "gap period" of Dec. 4 -- April 9 of no CV duty liability due to the expiration of the provisional measures period.