NEW YORK: US satellite-television provider DISH Network yesterday launched an unsolicited $25.5bn bid to acquire Sprint Nextel, trying to derail the offer by Japan’s SoftBank to buy 70 percent of Sprint.
DISH said it was offering to buy Sprint, the third-largest US wireless carrier, for $17.3bn in cash and $8.2bn in stock. “The DISH proposal clearly presents Sprint shareholders with a superior alternative to the pending SoftBank proposal,” said Charlie Ergen, chairman of DISH Network, in a statement.
The DISH bid challenges SoftBank’s October offer to acquire 70 percent of Sprint for $20bn. DISH said taking over Sprint would create a unique company that could deliver a fully integrated, nationwide bundle of video, broadband and voice services whether in the home or on the move.
AFP
