Sprint says Dish spectrum deal may be possible
NEW YORK (Reuters) - Sprint Nextel (S.N) could try to forge a spectrum agreement with Dish Network (DISH.O) in the future, according to the Chief Financial Officer of the No. 3 U.S. wireless service.
This could involve Sprint buying spectrum from Dish or a so-called spectrum hosting deal in which Dish could offer wireless services using the Sprint network and Dish's spectrum, Sprint's CFO Joseph Euteneuer told investors on Tuesday.
Dish, which is seeking regulatory approval to build a cellular network using wireless airwaves it bought for $3 billion, had previously said it would consider partnerships with wireless operators including Sprint or its rivals.
"We'd be a great hosting partner for him if he needed one," Euteneuer said during a webcast of an investor conference, referring to Dish Chairman Charlie Ergen.
Euteneuer also said that Sprint, which is currently upgrading its wireless network for high-speed services, could be in the market in the future to buy spectrum from Dish or in a U.S. government auction to expand its network capacity.
Sprint's board vetoed a multi-billion dollar purchase of MetroPCS Communications PCS.N last month, according to sources.
Euteneuer said that Sprint could be involved in U.S. wireless industry consolidation in the future if it manages to improve its share price enough to have the "currency" to make a deal.
"We believe consolidation should happen in the industry ... everybody's talking to everybody, and we'll see what happens," Euteneuer said in response to questions about the possibility for U.S. consolidation and whether Sprint could be involved.
Euteneuer said consolidation would happen as companies were forced to work with each other because of a widespread shortage of U.S. wireless spectrum.
Sprint is expected to be under a lot of scrutiny in the next few years as it grapples with the cost of upgrading its network and its $15.5 billion commitment to Apple Inc (AAPL.O) for its right to sell the iPhone.
Euteneuer said he hoped to seal agreements for up to $3 billion in vendor financing in the second quarter to help fund Sprint's network upgrade.
(Reporting By Sinead Carew)
- A top Federal Reserve official who is sometimes seen as a bellwether for U.S. monetary policy on Monday offered his voice to a growing contingent at the central bank that has argued for reducing the Fed's bond buying at a meeting next week.
SAN FRANCISCO - At Pinterest, the four-year-old online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.