Dish Network Gets $9 Billion In Financing For Buying Sprint
Dish Network has received $9 billion in “committed financing” for their $25.5 billion for Sprint. Japanese company SoftBank also made a bid to buy 70% of Sprint. SoftBank just completed the U.S. state regulatory review process for a potential sale.
Dish Network is also running a campaign that an acquisition of Sprint by SoftBank is a threat to national security. Their campaign website says “Don’t outsource our national security. Ports may change, but they should always be in American hands. The sale of wireless and wireline infrastructure with national strategic importance to a foreign company will weaken the security of the United States.”
According to TheNextWeb, U.S. Senator John McCain also wrote a letter supporting Dish to acting FCC Chairwoman Mignon Clyburn:
“As I am sure the Commission is aware, Sprint holds strategic assets, such as its wireless spectrum and fiber network, and has extensive and ongoing relationships throughout the whole government. With all other relevant facts and circumstances surrounding Softbank’s proposed acquisition of Sprint, I hope the Commission duly considers these facts when reviewing this matter.”
SoftBank responded to Dish by offering the United States government the opportunity to approve or veto a nominee to Sprint’s board of directors. The government-approved director would be responsible for monitoring national security issues regarding SoftBank’s take over of Sprint.
SoftBank’s offer still has to face reviews by the U.S. Department of Justice, the FCC, and the Committee on Foreign Investment.
Below are some of our previous articles surrounding the rival offers.