Dish Network has announced today that they will not be making new bids for Sprint, instead choosing to focus on 4G spectrum company Clearwire.
The news should be a relief for Japanese carrier SoftBank, who had to up their original bid as Dish tried to counter. SoftBank bid $21.6 billion for a 78 percent share of the company.
Although the company says it "continues to see strategic value in a merger with Sprint" but will not offer a new bid before the June 18th deadline set by Sprint's board.
Sprint also bid for Clearwire earlier this year, at $3.40 per share. Dish countered with $4.40 per share, and Clearwire's board recommended that shareholder vote for Dish's superior offer.
Although the company says it "continues to see strategic value in a merger with Sprint" but will not offer a new bid before the June 18th deadline set by Sprint's board.
Sprint also bid for Clearwire earlier this year, at $3.40 per share. Dish countered with $4.40 per share, and Clearwire's board recommended that shareholder vote for Dish's superior offer.
