Proxy firm ISS has sided with Dish Network Corp. (NASDAQ: DISH) in the battle between it and Sprint Nextel Corp. (NYSE: S) to buy Clearwire Corp. (NASDAQ: CLWR). The opinion means that the 4G spectrum that Dish needs to compete against AT&T Inc. (NYSE: T), Sprint and Verizon Wireless may become available soon. More importantly, the natural enemies of satellite broadcasting– the cable companies — will find themselves up against a more well-armed Dish as it can offer bundles of voice, TV and broadband.
Sprint has an offer to buy 78% of its shares from Japan’s Softbank. An alternative offer has been made by Dish. Between the two deals, the war between Dish and Softbank has become unusually complicated. Softbank believes that part of Sprint’s value is its ownership in Clearwire. Proxy firms have given Softbank the edge in the Sprint deal by recommending against Dish.
At this point, Softbank and Dish each likely will get only half of what they would like to have, which means each will walk away from the complex series of offers with visions of a combined Clearwire and Sprint tie up dead.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.