This M&A story between Sprint, Clearwire, Softbank and Dish has more twists and turns than any business dealings I have seen in a long time. I’m a long time Sprint user and recently received 2 beautiful HTC One phones and want what’s best for Sprint. When Dish first proposed a merger with Sprint I was favoring Softbank. Now looking at all the synergies, and their are a ton of them that Dish would bring to the table I’m now hoping Dish prevails. If Dish prevails don’t feel to sorry for Softbank as Dish said they would be more than be happy to pay them the $600 million breakup fee. Consumers win when we see 3 formidable mobile giants. Press release below:
DISH proposal provides greater value to Sprint Shareholders and substantial benefits to American public
ENGLEWOOD, Colo.–(BUSINESS WIRE)– DISH Network (NASDAQ: DISH) issued the following statement on news that Sprint Nextel’s Board of Directors has formed a Special Committee and has retained financial and legal advisors to evaluate DISH’s proposal to merge the two companies:
We are pleased that the Sprint Board of Directors has formed a special committee to review our proposal. We are available to meet with Sprint’s Board, management and advisors to discuss our plans and our willingness to commit to financing. We are confident that the Sprint Board will share our view that this proposal is superior on several fronts by offering Sprint shareholders greater value with a higher price and more cash, while also creating the opportunity to participate meaningfully in a combined, and competitively unique, DISH/Sprint.
Our proposal creates a company with an industry-leading spectrum portfolio and the only company that can offer customers a fully-integrated, nationwide bundle of in- and out-of-home video, broadband and voice services while unlocking the full potential of Sprint’s Network Vision. Additionally, the combined national footprints and scale of DISH/Sprint will provide substantial benefits to the American public by bringing improved broadband services to millions of homes with inferior or no access to competitive broadband services.