The nation’s No. 2 satellite TV provider, Dish Network, offered to purchase the wireless service provider Sprint Nextel Corporation for around $25 billion in cash and stock on Monday. This move could break way for other telecoms and video companies to consider their own prospects of merging.
Back in October, a Japanese wireless operator, SoftBank Corp., offered to buy 70 percent of Sprint for $20.1 Billion; However, yesterday offer from Dish Network may trump their proposal.
Dish Network, unlike SoftBank who is only proposing to invest in Sprint, is promising to bring more technical benefits to customer. One thing Dish has been working on is the ability to watch video anytime, anywhere via a combination of its satellite service with Sprint’s wireless network.
Dish Network’s bid is just the latest in a series of consolidation in the U.S. wireless industry. More and more carriers are frantically trying to consolidate in attempts to build more powerful networks.
Sprint’s shares increased by 17.8 percent yesterday to a near 4-1/2 year high. They even topped the value of Dish Network’s $25 billion offer.
If you would like to read more on Dish Network’s $25 billion offer to buy Sprint Nextel Corp., Click Here.
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