Softbank says its bid for Sprint Nextel superior

Apr 16, 2013

SoftBank Corp. says it believes its bid for U.S. wireless carrier Sprint Nextel is a better choice than the $25.5 billion counteroffer by Dish Network Corp.

Dish says its cash and stock offer beats Softbank's.

Softbank said in a statement Tuesday that the agreed terms of its deal "offer Sprint shareholders superior short and long term benefits to Dish's highly conditional preliminary proposal." The Japanese company said it expects to finalize the deal under the terms already agreed upon by July 1.

Softbank, a holding company with Internet and telecoms investments, is offering $20.1 billion in cash for Sprint, and allowing shareholders to keep 30 percent.

It is unclear if Softbank's CEO Masayoshi Son, a famously aggressive dealmaker, will raise his offer. Softbank shares fell 6.8 percent in Tokyo Tuesday.

Explore further: BofA to refund Apple Pay customers charged twice

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Dish Network offering to buy Sprint in $25.5B deal

Apr 16, 2013

Dish Network Corp. is trying to snag U.S. wireless carrier Sprint Nextel away from Japan's Softbank Corp., the latest sign that satellite dishes are losing their relevance in the age of cellphones that play ...

Sprint raises offer to buy Clearwire for $2.2B

Dec 17, 2012

Sprint, the third-largest U.S. cellphone company, said Monday that it will buy out the portion of wireless network operator Clearwire that it doesn't already own after raising its offer price to $2.2 billion.

Sprint seeks majority control of Clearwire (Update)

Oct 18, 2012

(AP)—Flush with the promise of cash from a Japanese investor, Sprint Nextel Corp. on Thursday said that it wants to buy out the founder of Clearwire Corp. to gain majority control of the wireless network operator.

Recommended for you

Tablets, cars drive AT&T wireless gains—not phones

3 hours ago

AT&T says it gained 2 million wireless subscribers in the latest quarter, but most were from non-phone services such as tablets and Internet-connected cars. The company is facing pricing pressure from smaller rivals T-Mobile ...

'Silicon Beach' brings tech boom to Los Angeles

6 hours ago

So long Silicon Valley. These days entrepreneurs and engineers are flocking to a place better known for surfing waves than the Web. Amid the palm trees and purple sunsets of the Southern California coastline, ...

User comments : 0