The bidding has stopped in a US$1.56 billion auction of wireless spectrum licenses across the U.S., and satellite operator Dish Network appears to be the winner.
The long saga of satellite operator LightSquared's quest to become a cellular carrier may come to an end soon with an auction for the company's assets scheduled for late November.
As the dust settles after SoftBank's US$21.6 billion acquisition of Sprint, losing bidder Dish Network may be just getting started at stirring up the U.S. mobile industry.
Clearwire shareholders approved Sprint Nextel's takeover of their company on Monday, ending a saga that had included years of uncertainty and finally a bidding war for the spectrum-rich wireless network operator.
Dish Network has dropped its offer to buy Clearwire, probably clearing the path for a strengthened Sprint Nextel to complete its takeover of the struggling but spectrum-rich mobile operator.
Sprint Nextel shareholders have voted overwhelmingly to approve SoftBank's US$21.6 billion takeover bid, setting the stage for the deal to close early next month.
Sprint Nextel has offered and Clearwire has accepted a bid of US$5 per share for the struggling wireless network provider, raising the stakes yet again in an expensive bidding war between Sprint and satellite service provider Dish Network.
Dish Network won't try to beat SoftBank's US$21.6 billion bid for Sprint Nextel, apparently clearing the way for the Japanese service provider to buy Sprint.
Sprint Nextel sued Clearwire and Dish Network on Monday in a bid to block Dish from taking over Clearwire, Sprint's majority-owned network partner.
Clearwire's board of directors has unanimously recommended its shareholders reject the takeover bid by Sprint Nextel, which owns roughly half of Clearwire, and instead accept a buyout offer from Dish Network.
SoftBank has sweetened its bid for Sprint Nextel, increasing its total offer to about US$21.6 billion and boosting the amount of cash Sprint shareholders would get.
The tug-of-war over Clearwire looks set to continue for at least another two weeks as the struggling mobile operator postponed a special shareholder meeting once again to consider Dish Network's latest bid.
Dish Network has boosted its bid for Clearwire to US$4.40 per share, 29 percent above Sprint Nextel's most recent offer, and said it is prepared to buy up the stock of a minority of shareholders.
The U.S. government is in negotiations with SoftBank for greater control over equipment purchases by Sprint Nextel and the selection of one of the Japanese company's nominee to the U.S. carrier's board, according to a news report.
Sprint Nextel has increased its offer to buy out Clearwire, bidding US$3.40 per share, to counter a competing offer by Dish Network.
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