It’s Over: Dish Gives Up on Its Bid for Clearwire

by Christopher Freeburn | June 27, 2013 9:16 am

DirecTV Blockbuster[1]Sprint (S[2]) is no longer facing a challenge to its plan to acquire all[3] of Clearwire (CLWR[4]).

On Wednesday, Dish Network (DISH[5]) announced that it is abandoning its bid to purchase the minority stake in Clearwire not already owned by Sprint. The move comes after Sprint upped its offer for Clearwire to $5 a share. That topped the $4.40 a share Dish was willing to pay, Reuters notes.

Last week, Dish also dropped a bid to purchase Sprint itself after the wireless carrier’s shareholder accepted enhanced buyout terms from Japan’s Softbank, which announced plans to buy the nation’s third largest wireless carrier[6] last year.

Dish has been looking to expand its business into wireless communications. It has acquired $3 billion worth of wireless spectrum and is thought to be seeking a wireless partner to build the business. Another potential target for Dish could be T-Mobile (TMUS[7]), whose majority owner, Deutsche Telekom is widely thought to want to leave the U.S. market.

Sprint said it would acquire the outstanding stake[8] in Clearwire late last year for $2.90 a share.

Shares of Clearwire fell more than 2% in pre-market trading on Thursday.

  1. [Image]:
  2. S:
  3. challenge to its plan to acquire all:
  4. CLWR:
  5. DISH:
  6. plans to buy the nation’s third largest wireless carrier:
  7. TMUS:
  8. acquire the outstanding stake:

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