Dish drops Sprint bid

SoftBank of Japan has stepped nearer to buying US wireless provider Sprint Nextel Corp, as rival bidder Dish Network declined to make a new offer after SoftBank sweetened its own bid last week.

SoftBank’s offer now stands at $21.6 billion.

“We look forward to receiving the FCC (Federal Communications Commission) and shareholder approvals which will allow us to close in early July and begin the hard work of building the new Sprint into a meaningful 3rd competitor in the US market,” Softbank said.

You must be logged in to post a comment Login