Japan's SoftBank Confident it Will Close Sprint Merger Despite DISH Counteroffer

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  1. dgstorm

    dgstorm Editor in Chief Staff Member

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    On Monday, it appeared that DISH network may have thrown a large monkey-wrench into the plans of the Japanese Company SoftBank to merge with Sprint. They made a counter offer to buy all of Sprint for $25.5 Billion. This was a 13% premium over SoftBank's offer to buyout 70% of Sprint. Despite this potential industry shakeup, SoftBank issued a press statement expressing confidence their deal will still go through on July 1st. Here's what they said,

    There is one very good reason why SoftBank is moving forward with confidence. Their deal has already moved past all the regulatory hurdles. Whereas DISH would have to start over from scratch, which would likely take several months. Interestingly, even if either Sprint or SoftBank were to walk away from this deal, both companies would actually benefit. Here's a quote with the explanation,

    As you can see, Sprint and SoftBank are in a win-win situation. Ultimately, it appears that SoftBank thinks the future value of this deal is more lucrative than walking away though, because their statement obviously means they intend to stick it out.

    Source: PhoneArena
     

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