Shares in the Dish Network spike after rumoured SoftBank interest
Claims that SoftBank wants to merge wireless company Sprint with Dish Network have pushed Dish’s share price up.
Reports said SoftBank wanted to capitalise on the growing internet of things (IoT) industry.
The reports said that Masayoshi Son, SoftBank CEO and Sprint chairman, wanted to combine Sprint’s 2.5GHz wireless spectrum with Dish’s infrastructure to enable 5G wireless services in the US.
The news came after SoftBank was rumoured to have been in talks with cable operator Charter – reports that pushed Charter’s up by 5%. Charter released an official statement saying it had no interest in merging with the wireless company.
With a market capital of approximately $31 billion, Dish Network may be a more manageable proposition than Charter, said analysts. Charter has a market cap of $98, more than double Sprint’s $35 billion.
Shares in both Dish and Sprint were significantly higher after the reports.