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Dish: Bid for Sprint Still Under Consideration
Mon, 06/10/2013 - 4:31pm

Dish Network's $25.5 billion bid for Sprint is still in play, according to a statement released today. 

Dish released the statement, saying it was "in response to media inquires about the current state of play regarding its proposal to merge with the Sprint Nextel Corporation." 

Dish called its bid, issued on April 15, 2013, a "formal proposal," noting that the company believes it is both economically and strategically superior to the one offered by SoftBank, which has proposed a $21.5 billion purchase of a 70 percent stake in Sprint.  

"Dish and Sprint continue to meet regularly and conduct the due diligence process that began in late May," the company said. "In addition, Dish and Sprint continue to negotiate the terms of a merger agreement.”

Dish Network recently complicated things with a bid for Clearwire, raising its bid for for the company to $4.40 per share, representing a 29 percent premium over the revised offer of $3.40 per share Sprint submitted to the internet wholesaler.

In a letter sent to Clearwire shareholders, Dish Chairman Charlie Ergen said his company was prepared to “de-link [Dish’s] proposed acquisition of 40 MHz of [Clearwire’s] BRS and EBS spectrum,” in the terms of the new bid.

While Sprint mulls it options, Softbank this week said it would consider an offer to buy Deutsche Telekom's T-Mobile USA business if its proposed deal with Sprint falls through. 

Sprint shareholders are scheduled to vote on SoftBank’s offer this week. Bloomberg reported that Sprint was considering postponing the June 12 vote but Sprint has indicated the vote is on track.

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