Sprint-Nextel corporation made a formal bid to buy out the rest of Clearware for $2.1 billion. The company currently holds a majority stake of 52 percent in the wireless provider. Other stakeholders include Comcast and Intel, which together own 12.4 percent of the company.

Before Sprint's offer goes through, it has to be cleared with Softbank, which is after a 70 percent stake in Sprint for an estimated $20 billion, a deal that's expected to go through between March-April, 2013. Under the circumstances, Clearwire could be valued at $4.1 billion.

In addition to total control over Clearwire, Sprint-Next is after its spectrum allocation, which includes various 4G LTE bands. It is America's second largest holder of 2.5 GHz spectrum.