Dish (DISH) Scheming Runs Into Resistance
Tweet
Share
E-mail
Get Alerts CLWR Hot Sheet
Join SI Premium – FREE
There were several developments in the Softbank / Clearwire (Nasdaq: CLWR) / Sprint (NYSE: S) / Dish (Nasdaq: DISH) drama overnight. In review, Softbank is seeking to buy Sprint. Sprint is attempting to take a majority stake in Clearwire, and Dish is attempting to outbid Sprint for Clearwire but may ultimately want to partner with Sprint or another wireless carrier.
According to reports in the Post, the FCC will not delay its review of Softbank's $20 billion dollar acquisition of Sprint. The delay was requested by Dish. Softbank is also expected to overcome Justice Department concerns.
If reports prove correct, it could mean the Sprint / Softbank deal is likely to go through, and would put the company on stronger footing as it attempts to acquire Clearwire.
It is interesting to note that Clearwire is trading above Sprint's offer price of $2.97 per share and just shy of Dish's intended price of $3.30. The move could relate to comment by Dish's CEO yesterday.
"It's not an illusory offer," Dish CEO Charles Ergen said. "We're serious about it. Our offer is good for shareholders. Sprint will have to do more to keep us out."
Ergen also said if the company fails to obtain a wireless partner, it would seek to sell spectrum.
"We would admit we failed and try a new approach," Ergen said. "We would hang a 'for sale' sign on the spectrum."
The comments shed light on Dish's ultimate motives and Ergen's grand scheme to deliver video service to customers both inside and outside the home.
According to reports in the Post, the FCC will not delay its review of Softbank's $20 billion dollar acquisition of Sprint. The delay was requested by Dish. Softbank is also expected to overcome Justice Department concerns.
If reports prove correct, it could mean the Sprint / Softbank deal is likely to go through, and would put the company on stronger footing as it attempts to acquire Clearwire.
It is interesting to note that Clearwire is trading above Sprint's offer price of $2.97 per share and just shy of Dish's intended price of $3.30. The move could relate to comment by Dish's CEO yesterday.
"It's not an illusory offer," Dish CEO Charles Ergen said. "We're serious about it. Our offer is good for shareholders. Sprint will have to do more to keep us out."
Ergen also said if the company fails to obtain a wireless partner, it would seek to sell spectrum.
"We would admit we failed and try a new approach," Ergen said. "We would hang a 'for sale' sign on the spectrum."
The comments shed light on Dish's ultimate motives and Ergen's grand scheme to deliver video service to customers both inside and outside the home.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tavia and Vita Inclinata sign LOI for $450M SPAC merger
- Phoenix Education Partners names Robert Brackenbury to its board
- Paulo Fontoura resigns from Lakefront Biotherapeutics board
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
