In a move that further muddles a complicated deal picture for Sprint Nextelwhich agreed in October to sell a 70 percent stake in the company to Japanese Internet and telecommunications group SoftBank for $20.1 billionDISH Network has made a $25.5 billion bid to acquire the nation’s third-largest telecommunications company.
Englewood, Coloradobased DISH said in a letter sent to the Sprint board of directors Monday that its offer would allow Sprint shareholders "to realize a superior value for their shares" than the agreement the third-ranked wireless provider reached with SoftBank, which was expected to close by the middle of the year. DISH’s cash-and-stock bidwhich consists of $17.3 billion in cash and another $8 billion in stockvalues Overland Park, Kansasbased Sprint at $7 per share, a 13 percent premium over the SoftBank proposal. The offer from DISH would also represent a 12.5 percent premium over Sprint’s Friday closing price.
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