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Dish makes rival offer for Clearwire
2013-01-09 08:54:00| Telecompaper Headlines
(Telecompaper) US pay-TV provider Dish Network has made an unsolicited bid for wireless carrier Clearwire, beating an offer from Clearwire's majority shareholder Sprint. Dish is offering USD 3.30 per share, versus USD 2.97 from Sprint. The offer, conditional on Dish acquiring just 25 percent of Clearwire's stock, also includes a commercial agreement with Clearwire, acquiring some of Clearwire's spectrum and financing for Clearwire. Dish has been made little secret of its interest in setting up its own mobile network in the US and in recent months has been rumoured to be in talks to acquire a number of smaller operators. It has its own spectrum holdings, but access to Clearwire's extensive frequencies would give it a much greater footprint. Clearwire said it held talks with Dish already, prior to agreeing the Sprint offer, and a special board committee will consider the new offer from the company. The company will hold off on taking any of the new financing promised by Sprint until the Dish offer is evaluated.
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Category:Telecommunications