NEW YORK Jan 29 Dish Network Corp has
decided against filing to block Sprint Nextel Corp's
proposed deal with Softbank Corp, at least for now,
citing its ongoing negotiations with Clearwire Corp and
uncertainty over that company's ownership.
Dish said, however, in a Jan. 28 letter addressed to the
U.S. Federal Communications Commission that it does plan to
participate in the next round of filings in the regulatory
review of Sprint's plan to sell 70 percent of itself to
It also filed a document with the FCC on Tuesday complaining
that the regulator should not have approved Sprint's recent
purchase of shares of Clearwire from another shareholder, Eagle
River. That deal gave Sprint majority ownership of Clearwire.
Satellite television provider Dish proposed buying Clearwire
for $3.30 per share earlier this month, countering Sprint's
December agreement to buy out Clearwire for $2.97 per share.
Sprint already owns 50.45 percent of Clearwire.
Sprint needs approval from a majority of Clearwire's
minority shareholders to go ahead with the deal. Many Clearwire
shareholders have complained that Sprint's offer is too low
especially in light of the Dish offer.
Crest Financial Ltd, a big minority shareholder in
Clearwire, said on Tuesday that it had filed a document with the
FCC seeking to block Sprint's purchase of Clearwire and its deal
with Softbank. Crest has also sued to block the deals.
Dish declined to comment beyond the filings. Sprint declined
to comment. Clearwire confirmed that its special committee is
still reviewing the Dish offer.
Clearwire shares closed down 2 cents at $3.34 on the Nasdaq.