ChadBroChillz

I wonder what this means for the future of nTelos and Sprint. I doubt Sprint will buy or renew nTelos's deal if Dish has any deal in place for building out Dish's spectrum.

Dish should have waited. Crest and the rest of the greedy team now sees even more dollar signs. RIP Dish's offer. Clearwire's stock is now trading above Dish's offer.

No, it just means they have to go through Dish to get the spectrum or have to wait until the independent directors decide that amending the equity agreement to allow sprint to lower the buyout % is smarter than going into bankruptcy. Sprint will still have roughly a 68% in the company. It will have no affect to Sprints currently known plans. Potential plans that sprint and softbank know about is a different story. 600mhz and 2.5ghz have different uses. 600mhz is for coverage. 2.5ghz is for capacity and speeds. And yes it is still very much worth it. 2.5ghz will allow sprint to deploy blazing fast speeds that their competitors cannot catch up to. Sprint could deploy enough spectrum to get 1Gbps speeds in most major markets.

They can't make a tender offer for more than 17% of the company. Softbank/Sprint amended that into the new merger agreement under the sprint shareholder rights. Softbank was not dumb enough to leave that opening. They made sure dish would have to fight on level ground. Sprint has to make a fully financed offer with commitment fees paid to be considered by June 18th.

Lets see 5 billion cash infusion or -9 billion cash infusion. Dish has no room to talk. Also I believe the FCC and DOJ are secretly rooting for Softbank. They have made it clear that the wireless market needs a strong 3 possibly 4 to compete against the duopoly. I am surprised that the FCC has taken so long.

Dish's financing actually allows other shareholders to participate based on their shares so long as Dish gets 25% Sprint has a few options. It is worth mentioning that Sprint knew about this decision for a week. Sprint could have matched the offer. Sprint can still raise their offer now and keep the current agreements in place, but I believe Spront want to end this as quick as possible, which may mean letting the deal fail. After it fails, they have the necessary vote to change the Bylaws to remove the 75% requirement. I think Sprint will keep an eye on now many shareholders actually tender. If it is over 25%, they will raise their offer prior to the rejection, but if it is below 25%, I think they make the new offer after it is rejected.

The deal was 80 million in financing each month, which would be converted to Clearwire shares at a price of 1.50 per share. 3 months would be 240 million dollars, which is around 160 million shares that go in Sprint's favor. By comparison, Crest owned 57,653,419 in dec 2012, which resulted in 8.34% of Clearwire's A shares. http://www.prnewswire.com/news-releases/crest-financial-and-affiliates-buy-more-clearwire-shares-and-reject-sprints-new-offer-184025451.html I mentioned this before, but Comcast and Bright House have more to lose than Sprint if Dish wins. Dish wins, means they get a network sharing deal with Sprint. Dish would now be able to bundle internet with Dish service. That could very well steal profits and customers from them. You really think they are going to shoot themselves in the foot for a measly dollar more per share? I am willing to bet that they will oppose any deal that involves Dish, even if Sprint concedes. Intel is trying to get into the smartphone chip game. They already have chips coming out in the future with support of LTE. Sprint-Softbank would be the third largest purchaser of smartphones. You think intel is going to turn its back on Sprint, for a dollar more, when it could potential make 100x that amount if Sprint and Softbank support Intel based phones. I am sure more manufacturers would consider Intel chips if they had the ability to sell their phones on Sprint and Softbank's network. http://www.softbank.co.jp/en/design_set/data/irinfo/library/presentation/results/pdf/2012/softbank_presentation_2012_004_01.pdf check page 39. Intel is being mentioned in the powerpoint under Smartphone is the key to success. I would not be surprised if the talks are already going on.

Sprint and supporters currently have 64% of the vote. Clearwire has already taken multiple months of financing from Sprint. Sprint and supporters will have 68% of the vote, if Sprint's offer fails, which would trigger the conversion of the debt to bonds. They would have already reached the 66 2/3% vote.

Sprint would get above the 66 2/3% if the deal fails, they would not have to wait until the standstill agreement ends to grab more shares. Sprint could be planning on letting their current offer fail, then raising the offer after it fails, which would mean the bonds are covered to shares and move Sprint and Co from 64% to 68%. If their offer is above Dish's offer, then Clearwire board would likely drop Dish's support and approve Sprint's deal. With board approval, Sprint would be able to meet all those requirements, which means they could reduce the necessary votes prior to the deal vote.

They only convert if the deal is rejected. However, if the deal was voted down now, Sprint would have around 68% of Clearwire, according to Masayoshi Son. Sprint should be able to get the bylaws changed then, but I do believe the board would have to be on board with Sprint for that to happen. I am just ready to get this over already. One thing I will note is that if Dish cannot get their governance or the 25%, then their deal is dead, which would leave Sprint with all the leverage. This could be the play at hand.

Wsj is reporting that Clearwire will recommend Dish's offer http://m.us.wsj.com/articles/a/SB10001424127887324188604578541524227687626?mg=reno64-wsj We will see how Sprint Softbank react, but I doubt they will let Dish's offer get signed before upping offer.

Tmobile got 6 billion actually. 3 billion in cash, 2 billion in spectrum, and an HSPA+ roaming agreement with 1 Billion. 3 Billion is more than reasonable, especially since Sprint would have had to pay 1 billion just to get out of the Softbank deal. The biggest poison pill now is the Sprint Shareholder rights agreement, which basically states that no company can own more than 17% of Sprint besides Softbank. We will not see Cheapie Charlie try and steal the deal with a tender offer like he is attempting with Clearwire. The new deal also raises the termination fee to 800million, any offer must be fully funded to be considered superior, and finally Dish cannot try and pull a fast one with a last minute bid.

Well, Looks like Paulson is happy with the deal according to Ny Times. http://dealbook.nytimes.com/2013/06/10/softbank-raises-bid-for-sprint-to-21-6-billion/ Also, the article mentions that Dish's best and final offer must be financed. Cheapie Charlie is not going to like that.

Hope you get better soon.

No, but the Clearwire bidding war is not over yet, and this gives sprint less capital to raise its offer for Clearwire. I believe Sprint's best hope is if the Clearwire board formally come out against the Dish offer, like Sprint has with the Dish offer now.

I think I read that Softbank will be lowering their capital investment from 8 billion to 5 billion. Sprint will be only getting 1.9 billion at closing, instead of the original 4.9 billion. Dang investors ruin everything. I guess some capital is better than no capital.

With the debt the company has, I would think higher prices would be coming, and I doubt we would ever see expansion beyond Sprint's current coverage with 800Mhz added in 2014-2015.

As soon as ergen won, I am willing to bet his interest would magically disappear and his true intentions would shine. Ergen would buy up surplus spectrum from Clearwire, then sign a network share deal with Sprint. That has always been Ergen's endgame. He is not going to over leverage his company to get Sprint. He is trying to agitate.

While, I do not want the courts involved, I would be okay if they made an injunction to delay the vote. I still believe that Clearwire must be reeled in prior to the sprint-softbank vote. If Softbank gets Sprint, it would allow cheapie charlie to focus on obstructing the Sprint-Clearwire deal. The Sprint-Clearwire deal is still a relatively cheap deal. Sprint's current offer is valued at 2.5 Billion and Dish's offer is around 1.63 billion for 25% of the company(6.5Bil for the whole company). Dish could deplete Sprint's new capital in this bidding war. Dish cannot raise their current offer on Sprint without adding more debt, which could be a huge red flag for Sprint, especially because they are coming from a history of being unable to compete because of being over leveraged.

I think economic scale is a huge part of this Sprint deal though, plus T-mobile could not compete as well as Sprint could compete with the big two. I am not sure I buy that he is already going to give up on the deal. Dish does not even have a legit offer on the table. I guess we will see what happens in the coming weeks.

Jack Grubman on CNBC put it best, " Charlie Ergen might be a great poker player, but he has a crappy hand and all his cards are facing up". I really do not believe Masayoshi Son will back down. Economic scale never goes away, plus 2.6Ghz spectrum may be the key to international LTE roaming and Sprint would have the monopoly on it. Those two factors could fund the deal on their own. If Sprint and Softbank were to actually take market shares from ATT or Verizon, they could become the largest purchaser of smartphones.

Did this man sell you those filters?

I highly doubt Sprint has paid the billions necessary to deploy new 1xAdvanced channels cards for the 4x configuration to be years away. I would think that this would be the perfect time for them to make all the necessary upgrades, plus I believe their are capacity benefits that current 1x phones could take advantage of. I believe you misunderstood my argument, I was not making the argument to reduce 1x carriers. My argument was that Sprint would not need additional 1x carriers, because of the increased capacity benefits. Sprint does not need more EVDO carriers, because of the shift to LTE for data. My argument also assumed that Sprint would use 20Mhz for its 1x and EVDO carriers, which is why I only allocated 20Mhz of PCS spectrum for LTE. You are correct, we do not know the full plan, but I highly doubt Softbank would push Sprint to absorbing Clearwire, if their plan was just to continue to use them for hotspots. Masayoshi Son has said they would not reveal their plans, but it is clear by his actions that they have more in mind than just hotspots, especially with the news that Sprint was looking into carrier aggregating two 20Mhz TD-LTE channels. When I mention nationwide, I do not mean over their entire 3G network. I mean covering major cities, similar to Tmobile's current HSPA+ deployment. I have no problem with Sprint going after the PCS-H block, especially in my market, which does not have 40Mhz A-G and will not get the full benefits of LTE on 800Mhz. I just do not believe it is needed in markets that have 40Mhz A-G.

At least another 20Mhz in all markets? I think anything over 40Mhz(including G) is overkill in markets where Clearwire has 50-60Mhz of continuous spectrum. 1xAdvanced has the ability to be configured to provide 4x the capacity over the same area as current 1x, I do not believe Sprint will need to add any more 1x carriers, especially with the 1x carrier on the 800Mhz. LTE will distribute the burden off the PCS spectrum onto the BRS and 800Mhz Spectrum. 10Mhz of SMR + 20Mhz of PCS + 40Mhz of BRS is a ton of capacity. Verizon is going to be stuck with 20Mhz of 700 and only another 20-40Mhz of AWS. Tmobile does not currently have any options outside their AWS spectrum, if it were to get burdened.

This could be the real reason why Sprint is thinking about extending the Softbank-Sprint vote. If Sprint swallows up Clearwire, then it is impossible for Dish to spas on Clearwire if the Softbank deal become the clearly preferred offer. I truly believe Dish's 4.40 offer was a response to CFIUS approving Softbank's ability to buy Sprint.