Sprint Nextel Corporation (NYSE:S) has completed the acquisition of spectrum from U.S. Cellular. Sprint will gain ownership of 20MHz in airwaves across the Midwest. This includes 20MHz PCS spectrum in cities like Chicago and South Bend and 10MHz PCS spectrum in St. Louis. This additional spectrum will enable Sprint to increase their network capacity and further improve the customer experiences in those markets. This transaction also includes around 420,000 U.S. Cellular customers.
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Path is a mobile social networking-enabled photo sharing and messaging service that launched in November 2010. Path has announced that they have made a partnership with Sprint that will let Sprint customers download the application to their phone without having to find it in the Google Play application store. This will be applied to the Samsung Galaxy S4, HTC One, and Kyocera Torque smartphones distributed by Sprint.
Oh no, he didn’t! Dish Network chairman Charlie Ergen responded to SoftBank’s CEO Masayoshi Son criticism of their potential deal with Sprint in an interview with USA Today. Ergen emphasized that Dish is offering a higher price and they are an American company.
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Masayoshi Son, the CEO of SoftBank, is not happy that Dish Network outbid his company for an acquisition of Sprint. Son called the idea of Dish merging their satellite TV service with Sprint’s wireless service “ridiculous.” Son criticized Dish Network’s deal for Sprint during a 90 minute investor presentation meeting in Japan. During the presentation, he discussed why SoftBank’s offer is superior and believes that they do not need to increase their offer for Sprint.
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Last week, we reported that Sprint formed a committee to review Dish Network’s unsolicited proposal. Dish Network made a $25.5 billion bid to acquire Sprint in early April in an effort to outbid SoftBank. Dish Network’s offer is a 13% premium on SoftBank’s deal. Today Sprint announced that they have received a waiver from SoftBank.
Verizon Wireless is currently in talks to increase their wireless network by leasing spectrum from Clearwire, according to The Wall Street Journal. Verizon reportedly is willing to spend around $1.5 billion to lease the spectrum from Clearwire. A large percentage of Clearwire is owned by Sprint, Comcast, Time Warner, Brighthouse, Google, and Intel.
Dish Network has made a $25.5 billion offer for Sprint. Dish Network has been searching for ways to penetrate the wireless market for quite some time and this would be a big entrance into the market. Dish Network’s $25.5 billion offer is over $5 billion more than what Softbank offered for Sprint.
In October 2012, SoftBank acquired 70% of Sprint for $20.1 billion. Sprint Nextel and SoftBank has assured lawmakers that they will not be using equipment created by Huawei Technologies in China on Sprint’s network. The chairman of the House Intelligence committee, Mike Rogers, reported this news yesterday.