Jun 14, 2013

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Gainers and Laggards: Dish Network Corp. (NASDAQ:DISH) and Clearwire Corp. (NASDAQ:CLWR)

Gainers and Laggards: Dish Network Corp. (NASDAQ:DISH) and Clearwire Corp. (NASDAQ:CLWR)

In the battle of billionaires planning to move into the US wireless market, Dish Network Corp. (NASDAQ:DISH)’s Charlie Ergen won a round, versus SoftBank Corp. (9984)’s Masayoshi Son.

Clearwire Corp. (NASDAQ:CLWR)’s board certified Dish’s $4.40-per-share offer for the firm this week, rejecting an offer by majority owner Sprint Nextel Corp. (S)

The move results in a setback to Tokyo-located SoftBank, which observes a Sprint-Clearwire combination as the showpiece of its US expansion plan. SoftBank is contending with Dish to purchase Sprint, the third-biggest US wireless carrier.

Sprint independently decided this week to a $21.6 billion acquisition by SoftBank, refusing a higher bid by Dish that it said was not “actionable.”

If Dish is able to get the part of Clearwire that Sprint does not own, it could force the carrier to think again whether SoftBank is its best suitor, reported by Walt Piecyk, an expert at BTIG LLC.

Without complete control of Clearwire and its valuable airwaves, Sprint would not be able to implement on its plans for a fourth-generation network, he added

SoftBank shares jumped up almost 3.4 percent ahead of trading 2 percent superior, at 5,080 yen, as of 11:24 am in Tokyo. The stock has rallied 61 percent this year. Clearwire’s stock jumped up 2.3 percent, to $4.47, at the end in New York, while Dish surged 2 percent, to $38.47.

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