Softbank
SoftBank Ups Sprint Bid, Sprint Puts Dish in the Corner
June 11, 2013 10:03 am | by Ben Munson | News | CommentsSoftBank 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.
Report: SoftBank Could Buy Deutsche Telekom’s Stake in T-Mobile
June 7, 2013 4:33 pm | by Ben Munson | News | CommentsSoftBank 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.
Ahead of the Bell: Adviser Supports Sprint Deal
June 3, 2013 9:12 am | by Associated Press | News | CommentsA shareholder advisory firm is backing Softbank in its attempted acquisition of a huge chunk of Sprint Nextel. The $20.1 billion bid from Japan's second-biggest mobile company would ease Sprint's debt burden and provide ample cash to improve its network and become a serious competitor, according to Institutional Shareholder Services...
Clearwire Postpones Sprint Vote, Could Force SoftBank’s Hand
May 31, 2013 9:36 am | by Ben Munson | News | CommentsIn 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 Raises Bid for Clearwire to $4.40 Per Share
May 30, 2013 9:51 am | by Ben Munson | News | CommentsDish 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, SoftBank Strike U.S. Security Deal with Stipulations
May 29, 2013 10:30 am | by Ben Munson | News | CommentsSprint 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.
Schumer Urges Look at Security in Sprint Deal
May 28, 2013 9:29 am | by Peter Svensson, AP Technology Writer | News | CommentsSen. Charles Schumer urged regulators to "use extreme caution" when reviewing the proposed acquisition of No. 3 cell carrier Sprint Nextel by Japan's Softbank, saying the Japanese company's use of Chinese networking equipment could open up U.S. networks to snooping and hacking...
Sprint, SoftBank Earn Final State Approval for Deal
May 24, 2013 10:04 am | by Ben Munson | News | CommentsThe California Public Utilities Commission voted to approve the transaction between Sprint and SoftBank. This decision marks the final necessary state approval for SoftBank’s proposed $20 billion bid to acquire 70 percent of Sprint. In a statement, the California Commission said the deal should lead to increased competition that “will benefit consumers and the telecommunications marketplace.”
Sprint Raises Clearwire Offer
May 21, 2013 10:46 am | by Ben Munson | News | CommentsSprint 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.
Dish Crystalizing Sprint Bid With $2.5B Debt Offering
May 15, 2013 10:56 am | by Ben Munson | News | CommentsDish Tuesday announced a $2.5 billion debt offering to be placed in escrow for use toward the $9.3 billion the company still needs to raise for the cash consideration portion of its $25.5 billion offer to merge with Sprint, a move that serves as more than a gesture of good will toward the Sprint bid since it will likely cost Dish to place that money into escrow.
Report: SoftBank Pushing Banks to Not Finance Dish’s Sprint Bid
May 13, 2013 10:09 am | by Ben Munson | News | CommentsSoftBank appears to be playing hardball with banks that could potentially help finance Dish Network’s $25.5 billion opposing bid. A Reuters report cited two sources suggesting SoftBank, which owns 33 percent of Chinese e-commerce site Alibaba, has told lenders their chances of underwriting Alibaba’s imminent IPO could be jeopardized by aiding Dish in financing its Sprint bid.
Report: Sprint Pushes Dish for More Details on Merger Bid
May 8, 2013 11:02 am | by Ben Munson | News | CommentsSprint is holding back on granting financial information to Dish Network as it pushed the company to elaborate on how its $25.5 billion merger offer will be funded and how it will create cost savings. Bloomberg, citing sources familiar with the matter, said Sprint’s board has raised its eyebrows at Dish’s ability to round up the $9.3 billion in financing it needs for the deal.
SoftBank CEO: Our Sprint Deal is Better Because of TD-LTE
May 7, 2013 10:09 am | by Ben Munson | News | CommentsSpeaking at a press conference, Son touted his company’s success in deploying TD-LTE over 2.5 GHz spectrum in Japan. He added SoftBank is better equipped to help Sprint deploy the same kind of service on the large swaths of 2.5 GHz Sprint stands to inherit should its $2.2 billion bid to buyout WiMax wholesaler Clearwire go through.
Softbank Claims Its Sprint Bid Represents 21 Percent Premium over Dish Bid
April 30, 2013 10:22 am | by Andrew Berg | News | CommentsSoftbank today went on the offensive as it sought to defend the benefits of its $20.1 billion offer to acquire a 70 percent stake of Sprint Nextel. SoftBank Corp. said it has presented an analysis of its agreed transaction with Sprint and explained to investors why its transaction is superior to what it called...
SoftBank Allows Sprint to Conduct Talks with Dish
April 29, 2013 10:49 am | by Associated Press | News | CommentsSprint Nextel says SoftBank is allowing it to seek more information from Dish Network related to its rival bid for the third-largest U.S. cellphone company. Sprint has agreed to sell 70 percent of itself to Japan's Softbank Corp. for $20.1 billion. But it recently got a competing...
Sprint Forms Special Committee to Review Dish Bid
April 22, 2013 9:50 am | by Ben Munson | News | CommentsSprint today announced a special committee of independent directors who will evaluate Dish Network’s $25.5 billion proposed merger. The committee will decide if Dish’s proposal is, or “is reasonably likely to lead to,” a superior offer to Softbank’s near $20 billion bid to acquire a 70 percent stake in Sprint.
Analysts Weigh-In on Dish’s Offer to Sprint
April 15, 2013 3:32 pm | by Ben Munson | News | CommentsDish Network unleashed a whole lot of disruption Monday morning when it announced a $25.5 billion offer to merge with Sprint. The unsolicited bid threw a big wrench into Softbank’s $20-billion deal for Sprint. Roger Entner, founder of Recon Analysts, sees Dish’s offer playing out in terms of more money for Sprint’s investors.
Dish Leapfrogs Softbank With $25.5 Billion Bid for Sprint
April 15, 2013 10:26 am | by Ben Munson | News | CommentsDish Networks this morning announced a $25.5 billion merger bid for Sprint, a deal it says represents a 13 percent premium over the value of Softbank’s current offer to acquire the Kansas City-based carrier. Dish’s offer consists of $17.3 billion in cash and $8.2 billion in stock.
Sprint, Softbank Near U.S. Deal to Restrict Huawei Gear
March 29, 2013 9:52 am | by Ben Munson | News | CommentsThe New York Times reports that Sprint and Softbank, the Japanese cellular company that intends to buy 70 percent of the U.S.’s third largest carrier, are expected to allow the U.S. government oversight in its choice of network suppliers.
Clearwire Takes Another $80 Million From Sprint
March 28, 2013 10:39 am | by Ben Munson | News | CommentsClearwire has opted to draw $80 million in funding for April from Sprint, as part of the carrier’s proposed offer to buy the WiMax provider for $2.97 per share. Clearwire accepted the draw for March despite Dish’s insistence it would withdraw its offer to buy the remaining half of Clearwire for $3.30 per share.
Sprint Posts Record 4Q Revenue, $1.3 Billion Loss
February 7, 2013 10:46 am | by Andrew Berg | News | CommentsWhile fourth-quarter 2012 Sprint platform wireless service revenue was up 12 percent to a record $7 billion, the Kansas City-based carrier still swung to a quarterly loss of $1.3 billion. The company said the loss was primarily due to network improvements...
Softbank 3Q Profit Doubles on iPhone Sales
January 31, 2013 6:49 am | by Andrew Berg | News | CommentsJapanese phone company Softbank, owned by billionaire Masayoshi Son, says its net profit more than doubled in the October-December quarter from a year earlier, helped by strong sales of Apple's iPhone and iPads. Net profit rose to 65.9 billion yen ($724 million) in the last quarter of 2012 compared with 32.83 billion yen a year earlier...
Dish Lays off Sprint, Softbank Deal
January 30, 2013 10:31 am | by Andrew Berg | News | CommentsDish Network told the FCC that it would not file to block Softbanks' proposed $20 billion acquisition of Sprint. In January 16 filing, Dish had asked that the shot clock in the Sprint, Softbank proceeding be paused until Sprint's bid for Clearwire...
Report: AT&T Considering Overseas Acquisition
January 17, 2013 9:40 am | by Andrew Berg | News | CommentsAT&T may be looking to acquire an overseas carrier, according to a report from the Wall Street Journal today. The Journal cites "people familiar with the carrier's thinking" who said that AT&T is currently looking at a number of targets and a deal could come before the end of the year...
Dish Jumps in With Unsolicited, $3.30 Per Share Offer for Clearwire
January 9, 2013 10:18 am | by Ben Munson | News | CommentsDish Network has offered to buy up to all of Clearwire’s common stock at $3.30 in a proposed deal that would allow Dish to purchase some spectrum assets from Clearwire. Under the conditions of the preliminary offer, Dish would acquire approximately 11.4 billion MHz-POPs from Clearwire, or 24 percent of its total spectrum holdings, for $2.2 billion.
