US company DISH makes rival bid for Clearwire, topping Sprint's offer
AFPNEW YORK -- U.S. satellite broadcast carrier DISH Network announced Tuesday that it had made a bid for Clearwire Corp., topping Sprint Nextel's offer for the wireless broadband firm's shares by 11 percent.
January 10, 2013, 12:04 am TWN
DISH said it had submitted a formal offer of US$3.30 a share, well above the US$2.97 Sprint proposed when it announced its bid in December.
The unsolicited bid, for at least 25 percent and up to all of the shares of Clearwire, cast a question over Sprint's earlier agreement to buy all 50 percent of Clearwire that it did not already own.
Clearwire announced on Dec. 17 that it had accepted Sprint's offer, which is also crucial to another giant deal: Japanese firm Softbank's plan to acquire 70 percent of Sprint.
Softbank shares finished 2.09-percent lower at 3,040 yen (US$35) on the Tokyo Stock Exchange Wednesday.