April 30, 2013

Softbank says Dish offer for Sprint 'illusory'

by Peter Svensson

The CEO of Softbank, which is trying to buy a majority ownership in Sprint, says a competing bid from Dish is based on "incomplete and illusory" numbers.

Dish Network Corp. has characterized its $25.5 billion bid for Corp. as superior to Softbank's. In a presentation Tuesday in Tokyo, . CEO Masayoshi Son said the comparison is not "apples to apples" and omits crucial factors.

Softbank agreed in October to buy 70 percent of Sprint for $20.1 billion. That deal is set to close July 1. Dish launched its competing bid for all of Sprint two weeks ago. A committee of Sprint's board is examining it.

view Dish's bid as superior. Son says Softbank's deal is worth 21 percent more than Dish's, all factors considered.

© 2013 The Associated Press. All rights reserved.

Citation: Softbank says Dish offer for Sprint 'illusory' (2013, April 30) retrieved 21 March 2023 from https://phys.org/news/2013-04-softbank-dish-sprint-illusory.html
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