Sprint and Softbank Forced into Tactical Warfare
From Slate Articles
January 9, 2013 - 7:29pm
Sprint and Softbank are being forced into tactical warfare. U.S. satellite-TV company Dish Network, run by the enigmatic Charlie Ergen, put forward a highly conditional $2.3 billion offer for Clearwire, a spectrum owner integral to the ambitions of Sprint and its Japanese buyer. Though the bid is unlikely to go far, it could pressure Sprint to pay more - or strike a deal with Dish.
The offer trumps Sprint’s $2.2 billion agreed deal for Clearwire. Though a board committee is considering the rival offer, it’s hard to imagine how it could possibly succeed. Sprint controls just over half of Clearwire’s votes and says it won’t accept. Part of Dish’s offer is to buy 24 percent of Clearwire’s spectrum outright for $2.2 billion, a proposal Clearwire has rejected before. What’s more, Clearwire can’t sell the spectrum without Sprint’s consent.
The Potemkin offer will nevertheless...
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