Dish Network Chairman Charlie Ergen said T-Mobile would have “strategic interest” to his company if Sprint’s rumored bid for the carrier falls through. Ergen said Dish doesn’t have the money to outbid Sprint for T-Mobile, or AT&T for DirecTV for that matter, but added that Dish has to be “well positioned so that no matter what happens” and that he thinks “we're there,” according to Seeking Alpha’s transcript.
The Sprint platform added 58,000 postpaid subscribers, a relatively small number but a marked...
Erik Prusch is now CEO of enterprise mobility software provider NetMotion. Prior to signing...
Welcome to the final segment in Wireless Week's Top 25 Headlines of 2013. Today's the big reveal...
In this five part video series, Wireless Week editors Andrew Berg and Ben Munson will count down the top headlines of 2013. Be sure to catch each installment, as we make our way through all the biggest news events from the past year!
In the past three years, wholesale connections stemming from mobile virtual network operators (MVNOs) and M2M have climbed by 30 million to hit 70 million across six top carriers. According to new numbers from GSMA Intelligence, the group including AT&T, T-Mobile, Sprint, US Cellular, Clearwire and Verizon Wireless has seen combined total connection gains of 20 percent over the last two years.
Just a day after closing its merger with SoftBank, Sprint unveiled some new unlimited talk, text and data plans. Unlimited data’s a big deal if only because the two biggest wireless providers in the U.S., AT&T and Verizon, completely shun the idea. But the timing of the plan caused speculation that the move was the first of many disruptive waves stemming from SoftBank entering the U.S. market. Not exactly.
Following nine arduous months of bids, revised bids, public beefs and lawsuits, Sprint today announced the completion of its merger with Japanese carrier SoftBank. With Sprint absorbing Internet wholesaler Clearwire in a deal finalized Monday, both Sprint and Clearwire are now effectively under the control of SoftBank.
Clearwire today announced its minority shareholders approved the $5 per share merger bid from Sprint. Of the minority shareholders not affiliated with Sprint or SoftBank, approximately 82 percent voted in favor of the transaction. In addition, holders of approximately 95 percent of all outstanding shares of Clearwire common stock also cast votes in favor of the merger.
The FCC has given its blessing to SoftBank’s $21.6 billion merger bid for Sprint and Sprint’s $5 per share buyout bid for Clearwire. In the order, released last Friday, the Commission concluded that the proposed transaction will likely result in public interest benefits.
SoftBank’s $21.6 billion deal for Sprint has won the approval of the FCC in a 2-1 vote. Bloomberg, citing people familiar with the matter, said the Commission’s decision covers both SoftBank’s bid and Sprint’s $5 per share offer to buy the remaining 50 percent of Clearwire it doesn’t already own.
Dish Network on Wednesday formally withdrew its tender offer to acquire all outstanding shares of Clearwire for $4.40 per share. The move comes in the wake of Dish’s decision back out of its bid for Sprint. Dish was far from winning over Clearwire investors to its offer anyway...
Sprint Nextel shareholders voted today to approve Japanese carrier Softbank's offer to purchase 78 percent of Sprint. Shares of the company were up almost 2 percent to $6.99 on the news. According to a press release, Sprint shareholders overwhelmingly approved the deal...
SoftBank CEO Masayoshi Son expressed confidence that his company’s bid to acquire Sprint should wrap up by early July now that Dish has officially thrown in the towel on its bid for Sprint. Still, Reuters reported that Son warned the crowd at SoftBank’s annual shareholders meeting that Dish could still make a move before the June 25 Sprint shareholders vote.
Sprint today announced that Clearwire has accepted Sprint’s raised bid of $5 per share to buy out Clearwire. The new deal values Clearwire at approximately $14 billion and represents a 47 percent premium over Sprint’s previous offer of $3.40 per share.
Dish is expecting to close by July 1 on its tender offer to purchase all outstanding common stock of Clearwire. The satellite provider said as much in a statement declaring opposition to Sprint’s lawsuit. Dish is arguing that Sprint’s request for expedited proceedings be denied.
In a statement released late yesterday, the satellite-TV provider said that Sprint’s decision to prematurely terminate Dish’s due diligence process and accept SoftBank’s revised acquisition bid of $21.5 billion has made it “impractical” for Dish to submit a new offer to Sprint. Dish instead said it will focus its efforts and resources on completing the Clearwire tender offer.
Sprint has filed a complaint with the Delaware Court of Chancery against Dish and Clearwire, asking the courts to put the brakes on Dish’s tender offer to Clearwire. In a press release, Sprint said “DISH has repeatedly attempted to fool Clearwire’s shareholders into believing its proposal was actionable in an effort to acquire Clearwire’s spectrum and to obstruct Sprint’s transaction with Clearwire.”
Dish Network has deployed fixed broadband service in rural Virginia using nTelos’ 2.5 GHz wireless BRS spectrum. The initial tests yielded speeds of 20-50 Mbps. In May, Dish and nTelos announced a partnership to co-develop the service. For the initial test, the companies activated two wireless tower test sites in the Blue Ridge Mountains.
A special committee is reportedly recommending Clearwire’s board fully endorse Dish Network’s tender offer of $4.40 per share. The Wall Street Journal, citing a person familiar with the situation, reported that Clearwire will likely postpone the June 13 shareholder vote on Sprint’s current bid of $3.40 per share to buy out Clearwire.
SoftBank late Monday raised its bid to acquire Sprint to $21.6 billion from $20.1 billion, or $7.65 per share. Under the new agreement, SoftBank would take a 78 percent stake in Sprint, up from the 70 percent promised in the previous offer.
SoftBank might be interested in buying Deutsche Telekom’s (DT) 74-percent stake in T-Mobile USA, if the Japanese carrier’s $20.1 billion bid for Sprint falls through. Reuters is citing three sources familiar with the situation saying that the talks—a continuation of preliminary negotiations between SoftBank and DT that began last year—have recently ramped up in light of Dish’s competing bid of $25.5 billion for Sprint.
Sprint is firing back at Dish’s offer to buy the remainder of Clearwire, calling the bid “not actionable” and saying it violates Delaware law and the existing Clearwire Equityholders’ Agreement (EHA). In a letter sent Wednesday to Clearwire’s board, Sprint CEO Dan Hesse made it clear that his company “will not vote in favor of [Dish’s] proposal, tender its shares in the offer or waive any of its rights as a stockholder or under the EHA.”
In light of Dish’s offer yesterday financially trumping Sprint’s existing bid for Clearwire, the wireless broadband carrier has rescheduled a shareholder vote on Sprint’s bid to buyout Clearwire. Clearwire’s shareholders were scheduled to vote on the Sprint transaction May 31. Sprint last week raised its offer to $3.40 per share (up from $2.97), but Dish swooped in with a $4.40 per share tender offer at the last minute.
Dish Network has raised its bid for Clearwire to $4.40 per share, representing a 29 percent premium over the revised offer of $3.40 per share Sprint last week submitted to the internet wholesaler. The bid caused Clearwire’s stock to skyrocket in after hours trading and it’s currently up more than 20 percent in pre-market as of 8:13 a.m. CT.
Sprint today announced that it and Japanese carrier Softbank have received clearance from the Committee on Foreign Investment in the U.S. (CFIUS) to move ahead with the proposed $20 billion merger of the two companies. The CFIUS’ approval comes with stipulations.
Clearwire’s board of directors is recommending its shareholders vote in favor of Sprint’s revised bid to buy out the wireless wholesaler. Large minority shareholder Crest Financial Limited sent a letter chiding Clearwire’s board for postponing the vote and urging shareholders to vote against Sprint’s revised offer.
Sprint has raised its offer to buyout Clearwire to $3.40 per share, representing a 14 percent premium over the previous offer of $2.97 and valuing Clearwire at $10.7 billion. Sprint’s boosted bid to acquire the nearly 50 percent of Clearwire it doesn’t already own comes just hours before Clearwire shareholders are scheduled to vote on the transaction.
Today’s letter goes over the points outlined in a letter Clearwire sent to shareholders last week but this time, Clearwire comes armed with a new recommendation from Institutional Shareholder Services (ISS), an advisory firm that is now recommending Clearwire shareholders vote for the Sprint merger.
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