Ergen looks to combine DISH’s wireless units
October 14, 2022
By Chris Forrester
Charlie Ergen, co-founder and chairman of DISH Network and EchoStar, also controls CONX, a Special Purpose Acquisition Company. Ergen now wants to combine CONX with Dish’s retail cellular operation, Boost Mobile.
CONX, in a statement, says it will hold a special meeting of shareholders on October 31st to vote on the plan and in particular to extend the date by which it currently must complete a business combination (from November 3rd this year, to June 3rd 2023). The statement calls for shareholders to vote in favour of the scheme.
“The [time] Extension will provide CONX with additional time to complete a business combination. The Company has begun preliminary discussions with DISH Network regarding a potential business combination involving DISH’s retail wireless business […] The Company expects to announce additional details regarding the potential business combination if and when a definitive agreement is executed,” said a formal statement.
DISH acquired Boost Mobile in 2020. CONX went public on the NASDAQ exchange in November 2020 and raised about $750 million.