Softbank on track to complete Sprint acquisition by July: CEO Son

TOKYO Thu Jun 20, 2013 10:13pm EDT

Related Topics

TOKYO (Reuters) - SoftBank Corp CEO Masayoshi Son said on Friday that SoftBank was on track to complete its acquisition of U.S. carrier Sprint Nextel Corp by July, after rival bidder Dish Network Corp declined to raise its offer.

Son was speaking at an annual shareholders' meeting, ahead of a gathering of Sprint shareholders next Tuesday to vote on SoftBank's offer.

Sprint moved on Thursday to take the upper hand in another battle with Dish over control of Clearwire Corp, raising its buyout offer to $5 per share, which it said had helped to win support from a key group of dissident shareholders.

Sprint had already bought a majority stake in Clearwire, which both Sprint and Dish were eyeing for its wireless airwaves that they hope to use for their networks.

(Reporting by Mari Saito; Writing by Sophie Knight; Editing by Edmund Klamann)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.