Dish states case for Sprint acquisition
Dish Network has asked US regulators to delay SoftBank’s proposed acquisition of Sprint, saying its own bid would be favourable under terms of US national security.
The company made its counter-offer for Sprint earlier this week, some seven months after Japan’s SoftBank agreed to $20.1 billion for a 70% stake in the US operator.
On Thursday, Dish posted a filing online reinforcing its unsolicited $25.5 billion bid for the company, stating that SoftBank’s bid lacked “existing in-market infrastructure.”
“DISH’s merger proposal is better for American consumers, better for Sprint shareholders, and better for US national security than the Softbank proposal,” the filing said.
Fran Shammo, CFO at Verizon, told reporters this week that the battle for Sprint would result in a stronger US wireless industry.
“Anything that builds the industry from an investment standpoint is good,” Shammo said.
“There are carriers that need additional investment and this is a great way to get there.”
Yesterday, Dish’s bid received reported approval from hedge fund titan and Sprint investor John Paulson.