Sprint is increasing its influence on wholesale mobile broadband operator Clearwire, with a deal to buy the stake held by Eagle River Holdings, the business controlled by entrepreneur Craig McCaw. The move will see Sprint increasing its voting rights above the 50 percent mark.

Reuters said that the news led to a dip in Clearwire's share price, after it appeared to have “dashed hopes” Sprint would look to buy its affiliate outright.

Sprint is set to pay around US$100 million for the stake.

It has been reported that Clearwire’s other shareholders could exercise a right of first refusal offer to acquire part of the Eagle River stake, in proportion to their existing Clearwire holdings, although it seems unlikely to do so.

It was said that shareholders including Intel, Comcast and Bright House Networks had objected to the form of an earlier deal between Sprint and Eagle River, which led to the transaction announced yesterday.

Reuters reports that Intel had confirmed it received notice of the transaction, and has 30 days to respond.

Sprint had previously reduced its stake in Clearwire below 50 percent, in order to reduce any impact Clearwire’s financial position could have on its own ratings.

Ratings agency Standard & Poor’s said that its rating of Clearwire is not immediately affected by the move, stating that “although we do view this as a potential credit positive for Clearwire, as it could lead to additional funding if Japan's SoftBank completes its acquisition of a 70% stake in Sprint”.

S&P also noted that Clearwire’s spectrum holding, which includes frequencies similar to those held by Softbank, offer potential value in terms of “equipment savings and technology development”.

It also said it currently expects Clearwire to run out of cash in mid-2013, “absent external sources of liquidity”.

Earlier this week, Japan’s Softbank announced a deal to acquire 70 percent of Sprint, in a US$20.1 billion transaction. At this point, it was said that “the transaction does not require Sprint to take any actions involving Clearwire Corporation other than those set forth in agreements Sprint has previously entered into with Clearwire and certain of its shareholders”.