Dish Network has lined up the financing it needs to make its $25.5 billion bid for Sprint Nextel, according to multiple reports, which could ratchet up pressure on both Sprint and SoftBank, which is seeking to acquire 70 parent of Sprint for $20.1 billion.
Dish Network Chairman Charlie Ergen said that the company has multiple backup options for its wireless plans if its $25.5 billion bid for Sprint Nextel does not succeed against SoftBank's $20.1 billion proposal to buy 70 percent of Sprint.
SoftBank CEO Masayoshi Son said his company's experience deploying TD-LTE in Japan will give it a clear advantage over Dish Network, which is competing with SoftBank to take control of Sprint Nextel. Sprint expects to integrate TD-LTE into its network via its pending acquisition of Clearwire, which is building a TD-LTE network.
Dish Network continued to hammer back against SoftBank, claiming that its unsolicited $25.5 billion offer for Sprint Nextel is clearly superior to the Japanese operator's $20.1 billion offer for 70 percent of Sprint.
Dish Network Chairman Charlie Ergen hit back against SoftBank CEO Masayoshi Son, and asserted that Dish's $25.5 billion bid to take control of Sprint Nextel would be better for the United States.
SoftBank CEO Masayoshi Son said he does not see a need for Sprint Nextel to raise its $2.97 per share offer to take control of Clearwire, and that Sprint would be happy owning merely 65 percent of the company.
SoftBank CEO Masayoshi Son said his company would not raise its $20.1 billion offer for 70 percent of Sprint Nextel to compete with Dish Network's unsolicited $25.5 billion counterbid because SoftBank's offer is already superior.
Dish Network's surprise $25.5 billion bid for Sprint Nextel may spark a bidding war between Dish and Japan's SoftBank over the United States' third-largest wireless carrier, according to comments from shareholders and investment analysts. Further, the situation likely won't get straightened out anytime soon, given the difficulty of comparing the two complex transactions.
Who would have thought that Softbank entrepreneur-turned-billionaire Masayoshi Son would go the extra mile to buy a 70 percent stake in Sprint Nextel to enter the U.S. market and create the third largest mobile phone services provider in the world? Likely only a select few telecom veterans.
Sprint Nextel CEO Dan Hesse, Softbank CEO Masayoshi Son and Clearwire CEO Erik Prusch recently met with FCC Chairman Julius Genachowski and other FCC commissioners to argue that regulators should approve their various deals, according to FCC filings.