DISH lets go of Sprint to focus on Clearwire

06/19/2013 | Wall Street Journal, The · Reuters · Wall Street Journal, The

DISH Network has decided not to submit a new bid for Sprint Nextel to counter SoftBank's sweetened $21.6 billion offer for 78% of the telecom by the June 25 deadline, the day Sprint shareholders are scheduled to vote on the deal. While DISH proposed offering $25.5 billion for all of Sprint, the satellite provider never submitted a formal bid, and its overture contained more complex provisions. Also Tuesday, DISH criticized Sprint's lawsuit to block DISH's tender offer for Clearwire, calling it "a transparent attempt to divert attention from its failure to deal fairly with Clearwire's shareholders."

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Wall Street Journal, The · Reuters · Wall Street Journal, The

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