Andre Yoskowitz
10 Jun 2013 21:21
In response to Dish Network's unsolicited bid of $25.5 billion for the carrier, SoftBank has upped their own bid by 7.5 percent, to $21.6 billion.
The original bid had been $20.1 billion for a 70 percent stake. The revised bid will be $16.6 billion to Sprint shareholders and another $5 billion in new capital, leading to a 78 percent stake.
SoftBank is the third biggest carrier in Japan and is actively looking to break into the U.S. market.
Dish, on the other hand, has been looking for ways to offer a bundle of television, Internet and mobile services and CEO Charlie Egan has money to spend.
A decision on the bids is expected this week.