Dish Again Asks FCC to Halt Softbank-Sprint Review
May 17, 2013, 7:08 AM by Eric M. Zeman
Dish Networks has filed a second request with the Federal Communications Commission asking the regulatory body to stop its review of Softbank's proposed equity acquisition of Sprint. This time around, Dish claims that Softbank is trying to block its attempt to buy Sprint though back-handed banking maneuvers. Last week, Reuters reported that Softbank threatened to keep Dish from participating in Alibaba's IPO if it didn't back down. "If SoftBank has the power to influence crucial financing decisions of a Chinese company and enlist those decisions in the service of its effort to acquire Sprint, then the proposed foreign ownership needs to be assessed in light of this Chinese company as well," said Dish. "SoftBank is trying to force its offer on Sprint's shareholders by underhandedly seeking to undermine a superior bid." The Securities and Exchange Commission has already given Softbank permission to move forward with its equity acquisition of Sprint and Sprint's shareholders are due to vote on the matter next month. The deal still needs to be approved by the FCC and U.S. Department of Justice. The FCC has not responded to Dish's request.
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