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DISH Network targets Sprint with competing $25.5B bid to trump SoftBank offer

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by Jeff Causey on
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DISH Network announced today that they have submitted a merger proposal to Sprint with a value of $25.5 billion. The offer consists of $17.3 billion in cash and another $8.2 billion in stock. According to DISH Network’s news release, the cash portion of the deal represents an 18% premium over the offer currently on the table from SoftBank. DISH Network also points out that the ownership proposal for stockholders is a better deal as Sprint stockholders will end up with a 32% in the entire merged company whereas SoftBank is only offering a 30% stake in the Sprint portion of the company if they buy it up. According to DISH Network, the merger with Sprint will create a unique company that can offer customers video, broadband, and voice services both in-home and out-of-home.

Keep in mind Sprint is also in the process of acquiring full ownership of Clearwire, but that deal is contingent on the closing of the SoftBank deal. With a competing offer now on the table, it is not clear how that might impact the acquisition of Clearwire. Sprint has not yet issued a response to this latest offer. Hit the break for the full press release issued by DISH Network. » Read the rest

DOJ Cites National Security In Request To Delay Sprint/Softbank Merger

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by Rudy Rivapalacio on
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Slow your roll, Sprint! The Department of Justice has stepped in and filed a request for the FCC to defer approval of the Sprint/Softbank Merger. The DOJ said it was “currently reviewing this matter for any national security, law enforcement, and public safety issues.” The deferral request should be seen as a plea for more time rather than condemnation of the proposal. The FBI and Department of Homeland Security are also taking part in the review.

An FCC hold will likely push the completion of the deal past the mid-2013 goal Sprint and Softbank stated back in October. It will also delay Sprint’s snail-paced, but growing, LTE rollout. Remember Softbank, Japan’s largest wireless provider, is bringing the green in this acquisition: $20.1 billion ($12.1 billion in cash consideration & $8 billion in capital).

Source: The Verge

Sprint Offers Clearwire $2.1 Billion To Become Truly Part Of The Sprint Family

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by Roy Alugbue on
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We already know that Sprint & Clearwire has quite the relationship, but Sprint fully intends from not just owning some of Clearwire, but it wants to acquire what’s left of the available Clearwire share. Reuters reports that Sprint (by way of Softbank) wants full control of Clearwire’s network and subsequent spectrum by making a full $2.1 billion offer. If the deal is approved (and all indications point to its approval), the entire value of Clearwire would be worth somewhere in the area of $4.2 billion— though we won’t see the deal formally approved until at least sometime in the March or April of the upcoming year.

Talk about Sprint wanting to put a ring on it. Sheesh.We’ll be on the lookout for any further developments on this big news.

source: Reuters

Sprint, Clearwire moving closer to deal according to CNBC

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by Jeff Causey on
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Reporting on CNBC’s Squawk on the Street, show host David Farber indicated negotiations between Sprint and Clearwire have been heating up in the last few days. Sprint, which already owns a majority interest in Clearwire, has been rumored to be working on a deal to buy out the remaining shareholders. Discussions with some of the other major parties, like Bright House, Intel, and Comcast, have been held in an effort to work through some of the complexities of a potential buyout. According to Farber’s sources, Sprint is trying to gain complete control over Clearwire in order to have access to Clearwire’s spectrum.

Sprint is poised to become a subsidiary of Softbank, probably in March or April 2013. Individuals familiar with the negotiations think the closing of the Softbank deal and the Sprint/Clearwire deal should occur at the same time. In order to provide appropriate notice, Sprint will likely need to issue a statement before the end of the year. Clearwire’s debt holders noted the company did not call First Lien Notes yesterday, adding to the speculation that Clearwire does not anticipate being an independent company for much longer.

source: CNBC

Sprint gains control of Clearwire

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by Winston Gordon on
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Sprint officially holds the controlling interest in Clearwire after buying out a shareholder pushing their stake in Clearwire from 48.1% to 50.8%. Clearwire and Sprint were both struggling financially but this move was made possible by Softbank acquiring Sprint on Monday. Sprint and Clearwire have done this dance before, but now that they have support from Softbank and a little more financial support it will be interesting to see what these companies are able to do in the future.

Source: Reuters

Softbank Formally Announces Acquisition Of Sprint Nextel

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by Roy Alugbue on
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As Softbank’s deep pockets have suddenly opened up a new challenger to Verizon & AT&T, it’s only natural for Sprint & Softbank to make an official statement confirming the major news. In a press release unveiled this morning, Softbank announced it will acquire Sprint Nextel for a whopping $20.1 billion ($12.1 billion in cash consideration & $8 billion in capital). The major highlight of this is the deal is the fact this will give Softbank a 70% stake of Sprint and 30% ownership, effectively giving it full control over the Now Network. The hope of this deal is Softbank will effectively give Sprint a better platform to use in rolling out not just its LTE network, but an LTE network with a significantly better structure than its competitors. Here’s Sprint CEO Dan Heese:

 

“This is a transformative transaction for Sprint that creates immediate value for our stockholders, while providing an opportunity to participate in the future growth of a stronger, better capitalized Sprint going forward. Our management team is excited to work with SoftBank to learn from their successful deployment of LTE in Japan as we build out our advanced LTE network, improve the customer experience and continue the turnaround of our operations.”

 

Of course all of this will be pending regulatory approval– so hopefully we won’t see some sort of mishap like we’d seen before. Hit the break for the full presser.

» Read the rest

Panasonic announces the Eluga smartphone for Europe, P-04D and 102P for Japan

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by Robert Nazarian on
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A few months ago Panasonic made it clear they wanted to sell smartphones outside of Japan, and shortly after, a water/dust proof device was revealed for this spring. Panasonic just made it official with the unveiling of the Eluga (pictured above) for Europe.

Panasonic also just announced the P-04D for NTT DoCoMo and 102P for Softbank which are both the same device as the Eluga, but is also the same device as the P-05D Disney Phone for NTT DoCoMo we showed you a couple of weeks ago. The only difference (other than colors) we know of is the Eluga gets NFC while the Japanese models get the Felica chip. All models should be available in March.

The big news is they’re going to be only 7.8mm thick and weigh 103 grams. To achieve this, Panasonic is putting in a 1150mAh battery, which is pretty small based on today’s standards.

Hit the break for a pic of the P-04D and full specs

» Read the rest

Panasonic Lumix Phone 101p – Joining Softbank’s stable

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by Jim Farmer on
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Softbank just keeps tacking on more Androids to its fall/winter line-up. Yesterday we told you about their Dell Streak Pro 101DL, and now we bring you news of the Lumix Phone 101p. This phone, manufactured by Panasonic, is meant to really combine a phone and digital camera, more so then just adding a camera to a phone. From the picture it looks like they succeeded. That’s a 13.2MP CMOS Lumix sensor with “Mobile Venus Engine.” Of course, it’s a solid phone as well. Check out these specs:

  • Android 2.3
  • 4-inch QHD LCD screen with 960×540 resolution
  • waterproof body (IPX5/7)
  • TI OMAP4430 dual-core CPU (1GHz)
  • compatible with SoftBank’s “Ultra Speed” high-speed data communication service (max. 21Mbps)
  • microSDHC card slot
  • IEEE802.11b/g/n Wifi
  • Bluetooth 2.1+EDR
  • infrared connection
  • e-wallet function
  • digital TV tuner
  • W-CDMA, GSM
  • size: 64×123×9.8mm weight: 128g

No word yet on pricing or the possibility of international sale. Did I mention it also comes in pink.

[via techcrunch]

Dell Streak Pro 101DL coming to Softbank January 2012

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by Jim Farmer on
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Count this as one more phone to be added to Softbank’s fall/winter lineup; the Dell Streak Pro 101DL. This looks to be another higher end device with specs including:

  • Android 2.3
  • 4.3-inch super AMOLED screen with 540×960 QHD resolution (Gorilla Glass)
  • 8MP CMOS camera
  • 1.3MP sub camera
  • 1.5GHz dual-core MSM8260 CPU
  • SyncUp compatible
  • Dell Stage 2.0 pre-installed
  • Bluetooth 2.1＋EDR
  • IEEE802.11b/g/n Wi-Fi
  • GPS
  • microSDHC card slot
  • W-CDMA, GSM
  • size: 65×126×10.3mm, weight: 140g

Expect this one on shelves sometime in January 2012. Price is still yet to be dermined.

[via TechCrunch]

Sharp Aquos SH8298U 3D for SoftBank Japan

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by Jim Farmer on
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Sharp is adding another glasses-free 3D phone to their stable, the Aquos SH8298U. This Aquos will sport Qualcomm’ Snapdragon MSM8255, a processor clocking in at 1.4GHz. Also onboard is an Adreno 205 GPU, 512MB RAM, 2GB of internal storage, a 4.2 inch qHD glasses-free 3D display, dual 8MP cameras on the back (for 3D content), a 1240mAh battery, and lastly Android 2.3 Gingerbread.

Pick it up from SoftBank in your choice of red or white.

[via pocketnow]

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