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Dish not going to fight Sprint/Softbank with FCC


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http://blogs.wsj.com...s/?mod=yahoo_hs

 

 

By Thomas Gryta

 

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Dish Network Corp. won’t file an official opposition in the regulatory review of Softbank Corp.’s plans to buy a 70% stake in Sprint Nextel Corp. for $20 billion, citing its own ongoing discussions acquire Clearwire Corp.

Sprint owns the majority of Clearwire and has agreed to buy the remaining stake, but Dish proposed a higher offer earlier this month that is being reviewed by Clearwire’s board. Dish had previously pushed the FCC to extend the time for parties to file a so-called petition to deny, which the regulator moved to Jan. 28 from a previous deadline of Jan. 4.

In a letter to the FCC Monday, Dish notified the commission of its intention to not file a petition to deny approval of the deal, “due, among other things, to the uncertainty surrounding the ownership of Clearwire and Dish’s continued negotiations with the Special Committee of Clearwire’s Board of Directors to acquire the company or certain assets of the company.”

Earlier this month, Dish proposed a $3.30-a-share offer for Clearwire, above Sprint’s agreement to pay $2.97 a share. Shares of Clearwire recently traded down 3% at $3.27, implying that investors expect an even higher deal.
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That's from the Justice Department. It's probably more a result of AT&T's lobbying than Dish's.

 

Sorry I didn't clarify, Dish's petition to delay the Sprint/Softbank deal. There are many parties that want to see the Sprint/Softbank merger fail.

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"Uncertainty surrounding the ownership of clearwire"? Whats uncertain? Nothing changes officially until sprint /softbank is approved and sprint consummates.

 

This is just more pandering from Ergen, implying that sprints ownership is up in the air and corruption is afoot.

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