Maybe I'm off here, so just looking for a clearer explanation. Way back, Sprint requested that their ownership interest of CLWR and its licenses be transferred to Softbank (see below). Does Son not expect to own all of CLWR? Son said he's fine with owning 67% of CLWR. If he controls 78% of Sprint's 67% control of CLWR, does that mean he effectively controls 52.26% of CLWR (0.78 x 67)? Does the math work that way or am I off base?
"In addition, Sprint has asked for transfer of Sprint’s prospective interest in Clearwire’s licenses in advance of the completion of Sprint’s purchase of a controlling interest in Clearwire of more than 50 percent ownership. Effectively, Softbank would control Clearwire because it would own Sprint."
That looks about right. The finite details are a bit confusing. Softbank won't have direct control over much of the spectrum because of the way about 60% of it is sub-leased from the EBS license holders by Clearwire and dilution of interest through Sprint. The spectrum is applied to be transferred into Starburst II, a holding entity during the transaction that will become Sprint Corporation/New Sprint after the deal closes.
What is so important to know about that? The details will get washed out with CLWR stock.