Softbank Gives Sprint Permission to Talk to Dish
Sprint today indicated that Softbank has made several exceptions to the merger agreement between the two companies that will allow Sprint to sign a non-disclosure agreement with Dish. Sprint formed a Special Action Committee earlier this month to evaluate Dish's proposed acquisition of Sprint for $25.5 billion. Sprint is holding separate discussions with Softbank, which is itself in the process of acquiring a 70% equity stake in Sprint. Softbank had to make exceptions to the legal documents already in place. As such, Sprint is not allowed to share non-public information with Dish, meaning Dish cannot look at Sprint's financials beyond its public quarterly and annual statements. Sprint is also not allowed to enter into any sort of negotiations with Dish regarding its offer. Sprint may only talk to Dish in order to get more information from the company concerning its proposal. Sprint said this will be the only time its Special Action Committee makes any sort of comment until after it has fully evaluated Dish's offer. It did not indicate how long the process might take.
FCC Likely to Reject Dish's Auction Discounts
The FCC is prepared to reject Dish Network's $3.3 billion in auction discounts, reports the Wall Street Journal. Dish used three smaller companies to place bids on its behalf.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
FCC Denies Dish $3.3 Billion in Auction Discounts
The FCC has officially and unanimously rejected Dish Network's $3.3 billion in AWS-3 spectrum auction discounts. Dish used three smaller companies, in which it owned an 85% stake each, to place bids on its behalf.
Dish Seeking Cash for Possible T-Mobile Deal
Dish Networks is discussing loans of $10 to $15 billion with banks, reports the Wall Street Journal, which it would use to finance a merger with or acquisition of T-Mobile. Dish and T-Mobile are believed to be holding merger talks, though a deal is not imminent.
Considering Dish is one of thee worst companies to work for...
Go with the Japanese - they have brains and actual integrity when it comes to running a business. Think of the company Sprint will be with Softbank - actually capable of competing with the big two.
Or, by all means, if you feel like repeating another Nextel disaster, allow Dish to continue.....
Today on True life: Sprint