The latest move in the standoff between Softbank, Sprint, Dish Network and Clearwire has been made, as Dish stated today it will not submit another bid for Sprint. This comes after Sprint sued to stop Dish from buying Clearwire, which the satellite company called an attempt to deflect attention from its own unfair dealings. If you'll recall, Dish Network jumped in with a $25.5 billion offer to buy Sprint, but after Japanese carrier Softbank improved its proposal slightly, Sprint put Dish on a deadline to respond. That time limit expired today, and Dish is choosing to consider its options on Sprint, while focusing on completing the Clearwire deal. Dish cited some specific changes in the Softbank deal that made it impossible to meet the deadline, including higher break-up fees if the deal didn't go through. so what's next? Softbank's still waiting for FCC approval before it can go through with the acquisition, and reports it expects to close the deal in early July.
Source: Reuters, Bloomberg, Dish Network
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/UHJftNew3FE/
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