In a piece today in Bloomberg written by Scott Moritz and Jeffrey McCracken, the two pointed out the operational savings that Softbank Corp (TYO:9984) (PINK:SFTBF) expects from a Sprint Nextel Corporation (NYSE:S) merger could reach $3 billion by 2017. Softbank’s President Masayoshi Son laid out these numbers this week in a meeting with Sprint investors in New York. Softbank sees a savings of $2 billion immediately from 2014 to 2017 with the $3 billion arriving...
Read More »
Softbank Corp. (TYO:9984) (PINK:SFTBF) is appealing to Sprint Nextel Corporation (NYSE:S) as the drama in the telecommunications industry continues. The company said even though DISH Network Corp (NASDAQ:DISH)’s buyout offer was higher than its own, its offer is actually superior because it has experience with TD-LTE. A merger between Sprint Nextel and Softbank has been pending since late last year. The Japanese telecom company was set to buy 70 percent of Sprint Nextel. Then...
Read More »
Paul Otellini is favoring Softbank Corp (OTCMKTS:SFTBF) (TYO:9984) over DISH Network Corp (NASDAQ:DISH) for the takeover of Sprint Nextel Corporation (NYSE:S) according to Reuters. The CEO of Intel Corporation (NASDAQ:INTC) has written a letter to Federal Communications Commission (FCC) Chairman Julius Genachowski in which he said that he is backing SoftBank, which is a wireless carrier based in Japan. There have been talks held between Sprint Nextel Corporation (NYSE:S) and Softbank Corp (OTCMKTS:SFTBF) (TYO:9984) since last...
Read More »
Softbank Corp (OTCMKTS:SFTBF) (TYO:9984) president and CEO today criticized the rival offer from DISH Network Corp (NASDAQ:DISH) for Sprint Nextel Corporation (NYSE:S). Masayoshi Son said that Dish’s unsolicited $25.5 billion offer is incomplete and illusory. Son dismissed the idea of raising his $20.1 billion bid for a 70% stake in Sprint Nextel Corporation, and said his plans would provide Sprint shareholders better value. DISH Network Corp (NASDAQ:DISH) wanted to combine its satellite TV business with Sprint Nextel...
Read More »
Sprint Nextel Corporation (NYSE:S) on Monday said Softbank Corp (TYO:9984) (PINK:SFTBF) gave a waiver for Sprint to seek more information from rival suitor DISH Network Corp. (NASDAQ:DISH). Two weeks ago, Dish sent shock waves to the markets with a counter-offer of $25.5 billion cash and stock for Sprint. DISH Network Corp. (NASDAQ:DISH) claimed its sweetened offer was superior to the $20.1 billion deal struck between Softbank Corp (TYO:9984) (PINK:SFTBF) and Sprint Nextel Corporation (NYSE:S) last October. Overland...
Read More »
Yahoo! Inc. (NASDAQ:YHOO) has announced plans to initiate a $20 million fund to help US start ups gain a foothold in Japan. The company is partnering with Japanese firm Softbank Corp (TYO:9984) (PINK:SFTBF) on the venture and will look to invest in start ups from their early stages of development to late stage expansion in the Japanese market. Japan offers unique challenges to US companies attempting to build a presence in the market. The unique culture...
Read More »
DISH Network Corp. (NASDAQ:DISH) is asking governmental regulators to halt their review of the proposed acquisition of Sprint Nextel Corporation (NYSE:S) by Japan’s Softbank Corp. (PINK:SFTBF) citing national security reasons. This is not the first time that Dish has approached the Federal Communication Commission with an appeal for a suspension, but what makes this request different is that it is coupled with Dish’s own unsolicited $25.5 billion bid that it made for Sprint on Monday. It...
Read More »
DISH Network Corp (NASDAQ:DISH)’s unsolicited $25.5 billion offer to acquire Sprint Nextel Corporation (NYSE:S) has received a vote of confidence from Leon Cooperman of Omega Advisors Inc. and hedge fund billionaire John Paulson. That further diminishes the hope of Japanese telecom giant Softbank Corp (PINK:SFTBF) (TYO:9984), which agreed in October 2012 to acquire 70 percent stake in the U.S. wireless carrier. Leon Cooperman-led Omega Advisors Inc., which owns 1.9 percent stake in Sprint Nextel Corp. (NYSE:S),...
Read More »
DISH Network Corp. (NASDAQ:DISH) is desperate to break into the mobile industry—so desperate in fact, that it made a rival unsolicited bid for Sprint Nextel Corporation (NYSE:S) on Monday. The saga continues, but will this kick off a bidding war between DISH and Softbank Corp. (TYO:9984) (PINK:SFTBF)? Shares of Softbank Corp. (TYO:9984) (PINK:SFTBF) dropped as much as 10 percent today in the wake of DISH Network Corp. (NASDAQ:DISH)’s offer to buy Sprint Nextel out...
Read More »
Shares of Softbank Corp (PINK:SFTBF) (TYO:9984) declined Tuesday to their lowest level in six months in the Tokyo Stock Exchange, as investors feared that DISH Network Corp (NASDAQ:DISH)’s bid for Sprint Nextel Corporation (NYSE:S) may scuttle the Softbank Corp (PINK:SFTBF) (TYO:9984)’s $20.1 billion offer for the U.S. telecom company. Shares of Japan’s third largest telecommunications company were down 9.3 percent to 4,255 yen, and closed the day 6.8 percent lower at 4,290 yen. Yesterday, DISH Network Corp (NASDAQ:DISH) made...
Read More »
Sprint Nextel Corporation (NYSE:S) has received a merger proposal from DISH Network Corp. (NASDAQ:DISH). DISH sent a letter to the board of Sprint Nextel Corporation (NYSE:S) offering $7/share for Sprint including $4.76 in cash plus 0.05953 DISH shares, which would have Sprint shareholders owning 32% of the pro forma company. Dish would look to have Sprint’s Clearwire Corporation (NASDAQ:CLWR) deal close. The resulting company would have an estimated $40 billion in net debt on ~$10.5 billion in 2014 EBITDA...
Read More »
