NEW YORK (Reuters) - Softbank Corp's founder Masayoshi Son has told Sprint Nextel Corp that the Japanese firm will not consent to a takeover of Clearwire Corp by Sprint if the offer price exceeds $2.97 per share, two sources close to the matter said on Thursday.
Sprint, the majority owner of Clearwire, has offered $2.90 per share, or $2.1 billion, to buy the rest of the wireless service provider, but some shareholders and analysts have said it will need to raise its offer to win investor support.
Clearwire's shares rose nearly 15 percent to $3.16 on Nasdaq on Thursday.
In October, Softbank agreed to buy a 70 percent stake in Sprint for about $20 billion. Sprint needs Softbank's consent to purchase the rest of Clearwire.
Representatives for Sprint, Softbank and Clearwire declined to comment.
Son's threshold is the same price that Sprint paid to buy a small stake from Clearwire founder Craig McCaw's Eagle River Holdings LLC in October, the sources said.
The Eagle River purchase represented roughly a 130 percent premium to where Clearwire's stock had been trading before news of Softbank's deal with Sprint.
The timing of Sprint's current negotiations with Clearwire is being driven by Clearwire's uncertain liquidity position, the sources said. Without new financing, Clearwire has said it could run out of cash in the third quarter of 2013.
As part of its bid on Thursday, Sprint has offered to provide Clearwire with $800 million in financing, according to a U.S. Securities and Exchange Commission filing.
(Additional reporting by Sinead Carew; Editing by Ken Wills)
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