Dish won't make new bid for Sprint, clearing path for SoftBank

The satellite service provider had until Tuesday to submit a new offer

By , IDG News Service |  

"Sprint's lawsuit is a transparent attempt to divert attention from its failure to deal fairly with Clearwire's shareholders, as well as to exploit its majority position to block Clearwire's shareholders from receiving a fair price for their shares," Dish wrote. "Dish is confident that its superior offer, which has been unanimously recommended by the Clearwire Board, including the majority appointed by Sprint, will be upheld and Clearwire shareholders will be free to realize the 29 percent premium represented by the Dish offer."

Industry observers have questioned Dish's prospects for acquiring either Sprint or Clearwire, citing legal issues and the amount of debt Dish might have to incur to complete a competitive network.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

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