SoftBank has signalled to the U.S. government that it will let officials elect a new person to Sprint’s board of directors. This person would be responsible for overseeing national security concerns. The move is an unusual concession on SoftBank’s part, and is being taken to allay U.S. governmental fears about foreign country ownership of a […]
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 […]
SoftBank’s CEO is continuing to talk-up his company’s $20.1 billion offer to buy out Sprint, by claiming SoftBank’s experience with 4G will help the US carrier. Network enhancements, such as SoftBank’s single frequency network technology for reducing interference, will help Sprint in the long run alongside other benefits, according to CEO Masayoshi Son. The comments […]
Softbank today said that the U.S. Securities and Exchange Commission has approved its plan to purchase a 70% equity stake in Sprint. With the SEC review complete, Softbank said that Sprint will now mail its shareholders the information they need to vote on the purchase. The vote has been scheduled for June 12. Softbank is […]
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 […]
Dish Network has announced it wishes to merge with Sprint, at a cost of $25.5 billion. The proposal from the satellite service provider could potentially derail the current attempt by Japanese carrier SoftBank to purchase Sprint, a deal worth around $20 billion that has been in progress since October last year. The offer from Dish […]
Sprint and Softbank have agreed to unofficial terms requested by the U.S. government with respect to purchasing telecommunications and wireless networking equipment from Chinese vendors such as Huawei and ZTE. Softbank is in the process of acquiring a 70% stake in Sprint, and the agreement is meant to help ease the transaction though the approval […]
NEC is ready to exit the cell phone business. According to sources cited by Reuters, the Japan-based company may divest its cell phone business to Lenovo, with which it already has a business relationship. Lenovo, headquartered in China, has been clear about its ambitions in the mobile phone space, but has yet to field a […]
Clearwire today said that it will, for a second time, draw $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint’s plan to acquire the portion of Clearwire that it doesn’t already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to […]
A handful of Clearwire investors plan to reject Sprint’s $2.97-per-share offer for the company, reports Bloomberg. Glenview Capital Management and Tazzan Asset Management, which combined own about 31 million shares of Clearwire, believe the company is worth more than what Sprint has offered, especially in the light of Dish Network’s $3.30-per-share bid. Sprint, which is […]
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