Advanced Television

Dish Network to wrap Boost Mobility on July 1

June 19, 2020

By Chris Forrester

Charlie Ergen’s Dish Network move into wireless, helped by its $1.4 billion acquisition of Sprint’s Boost Mobile subsidiary, will close on July 1st. Part of the purchase agreement was payment by Dish of an additional $3.5 billion for T-Mobile’s spectrum licenses.

A June 17th filing to the US Securities & Exchange Commission (SEC) made by T-Mobile explains that as a consequence of its acquisition of Sprint and which required it to divest itself of Boost Mobile, Dish can now complete its portion of the deal.

“Dish will acquire Sprint’s prepaid wireless business, which was historically operated by Sprint under the Boost Mobile, Virgin Mobile and Sprint prepaid brands, including customer accounts, inventory, contracts, intellectual property and certain other specified assets,” says the SEC filing.

June 17th saw the Department of Justice complete its investigations. The T-Mobile filing stated: “As a result, we believe all conditions to closing under the Asset Purchase Agreement (other than those conditions that can only be satisfied at closing) have been satisfied and, subject to the satisfaction of the conditions that must be satisfied at closing, the closing of the Prepaid Business Sale will occur on July 1st 2020.”

Categories: Articles, Business, M&A

Tags: , , ,