Dish Network (DISH : NASDAQ : US$37.66)
Clearwire (CLWR : NASDAQ : US$3.18)
Network Chairman Charlie Ergen dismissed speculation his surprise $2.3-billion bid for Clearwire was “illusory,” saying that he wanted a stake in the wireless company and that rival bidder Sprint Nextel (S) would have to work to fend off Dish.
Last month, Dish announced it had made an offer of $3.30 per share for Clearwire, which had already agreed to sell itself to majority owner Sprint for $2.97 per share. A special committee on the Clearwire board is now reviewing the offer.
Ergen said Monday that he fully intended to go through with the bid. Addressing speculation about his plans for some $3 billion in purchased wireless spectrum, he explained he did not intend to sell it. “Sprint will have to do something different than they are doing today to keep us out,” the hard-charging, outspoken billionaire told an audience of media industry professionals and investors.
Dish has not explained why it bid for Clearwire. While some analysts speculate it may simply be hoping to gain leverage in talks with Sprint about a network partnership, others suggest it wants Clearwire’s spectrum.
Related articles
- Dish Network makes offer for Clearwire (bizjournals.com)
