SoftBank Corp. Chief Executive Masayoshi Son launched a blistering attack on Dish Network Corp.’s competing bid for Sprint Nextel Corp., saying it would load the U.S. carrier with debt and delay its turnaround without providing any telecommunications expertise.
Clearwire Corp. will again tap financing from Sprint Nextel Corp. under their buyout deal, taking a $80 million draw for May that will be the last available before Clearwire shareholders vote on the deal.
Sprint Nextel Corp. is up to its neck in a merger fight, and it’s all about airwaves. But Sprint is waging another battle over a separate, lower-profile effort to buy the roughly 50 percent stake it doesn’t own in wireless-broadband operator Clearwire Corp.
Dish Network Corp.’s $25.5 billion bid for Sprint Nextel Corp. offers more value to shareholders than the wireless company’s original deal with Japan’s Softbank Corp., Sprint investor Paulson & Co. said Tuesday.
Sprint Nextel Corp.’s fourth-quarter loss widened and customer losses continued amid the continuing shutdown of its older Nextel network, as the company aims to turn around its business to compete with larger wireless rivals.
Sprint Nextel Corp. offered to acquire the 49% of Clearwire Corp. it doesn’t already own for $2.90 a share, confirming that the carrier is moving to consolidate a long-time partner that is key to its future strategy.