Latest in Dish

Image credit:

Softbank founder goes on the attack, sees 'no need' to improve offer for Sprint network

Mat Smith, @thatmatsmith
April 30, 2013
Share
Tweet
Share

Sponsored Links

Despite bidding competition from Dish, Softbank's founder, Masayoshi Son, has told Reuters that he sees no need to adjust his company's offer for Sprint. In fact, he's even seen support from Intel CEO Paul Otellini, who stated in a letter to the FCC last week that a third competitive national carrier is "very compelling."

During the company's financial results today, Softbank's Son went on the attack, spending a big chunk of the presentation pitching what his company would offer over its rival's bid. He kicked off by saying that Dish's offer (and comparisons) was "illusory" and how the Japanese carrier's offer had a 21 percent premium over its rival's, along with a swifter turnaround: two months compared to a year. Son also said that his company's offer would sidestep the difficulties in combining spectrum in the US, as Softbank doesn't currently hold any US wireless spectrum at the moment. The CEO added: "If our deal doesn't go through with Sprint... the carrier won't have the cash to follow through with their network vision [this year]."

Earlier in the earnings event, Son said that his company's healthy native position was "just a stepping stone", and that he's now aiming for the number one spot in mobile internet globally -- Sprint appears to be a big part of those plans.

Show full PR text

SoftBank Agreement Provides 21% Premium To Preliminary,
Highly Leveraged DISH Proposal

Tokyo – April 30, 2013 – SoftBank Corp. (TSE: 9984) ("SoftBank") today presented an analysis of its agreed transaction with Sprint Nextel Corp. (NYSE: S) ("Sprint"), and explained to investors why its transaction is superior to the highly leveraged, preliminary approach put forward on April 15 by DISH Network Corporation (NASDAQ: DISH) ("DISH"). SoftBank Chairman and CEO Masayoshi Son outlined eleven key areas where the SoftBank transaction provides greater benefits to Sprint shareholders and calculated how the SoftBank transaction provides Sprint shareholders with cash, stock and synergies collectively representing a 21% premium to the DISH proposal.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

The Morning After: Our first impressions of the Xbox Series X

The Morning After: Our first impressions of the Xbox Series X

View
The Aura Strap adds new tricks to your Apple Watch

The Aura Strap adds new tricks to your Apple Watch

View
The Arcwave Ion is designed to 'give men a female orgasm'

The Arcwave Ion is designed to 'give men a female orgasm'

View
Seattle law will force Uber and Lyft to pay drivers a minimum hourly wage

Seattle law will force Uber and Lyft to pay drivers a minimum hourly wage

View
Xbox Series X first look: Fast, powerful and quiet

Xbox Series X first look: Fast, powerful and quiet

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr