Dish abandons Sprint acquisition efforts

Jun 21, 2013 by The Associated Press

Satellite TV operator Dish Network Corp. is officially abandoning its efforts to acquire Sprint Nextel Corp.

The Englewood, Colo., company filed regulatory documents Friday formalizing the retreat it announced earlier this week. The move leaves Sprint free to accept what it considers a superior offer from Japan's Softback.

Dish and Softbank were competing to acquire the wireless carrier since April. Sprint opted for Softbank's $21.6 billion offer for 78 percent of the company, versus Dish's $25.5 billion bid for all of Sprint.

In the filing, Dish said it has abandoned its efforts and plans to redeem $2.6 million in outstanding senior debt.

Dish previously said it will continue to focus on its bid for Clearwire, a wireless network operator in which Sprint has a majority stake.

Explore further: Studying the speed of multi-hop Bluetooth networks

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

Related Stories

Sprint to listen to Dish offer

May 21, 2013

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank.

Dish won't submit revised bid for Sprint

Jun 19, 2013

Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan's Softbank.

Dish tops Sprint's bid for Clearwire ahead of vote

May 30, 2013

Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting ...

Recommended for you

End to end 5G for super, superfast mobile

Nov 24, 2014

A collaboration between NEC Electronics Samsung and several academic centres in China and Iran, is investigating how software-defined cellular networking might be used to give smart phone users the next generation of super-superfast ...

German study supports free "Super WiFi"

Nov 24, 2014

The need for the wireless transfer of data will increase significantly in the coming years. Scientists at the Karlsruhe Institute of Technology (KIT) therefore propose to turn some of the TV frequencies that ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.