Ina Fried

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SoftBank Says Still Hopes to Complete Sprint Deal by July

Japan’s SoftBank said Tuesday that it still expects to complete its deal by July to acquire a controlling interest in Sprint Nextel.

softbank_sprint_logos

SoftBank’s statement comes despite a rival $25.5 billion bid for Sprint coming from Dish Network.

“SoftBank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short and long term benefits to Dish’s highly conditional preliminary proposal,” SoftBank said in a statement. “The SoftBank-Sprint transaction is in the advanced stages of receiving the necessary approvals, and we expect to consummate the transaction on July 1, 2013.”


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