Dish withdraws its bid for Clearwire2013-06-27 08:55 by DanielaTags: Dish, Sprint, Clearwire
Dish Network withdrew its $4.40-a-share offer for Clearwire on Wednesday, nearly a week after the bid was trumped with a sweetened proposal by Sprint Nextel. This clears the way for Sprint to acquire the 4G wireless provider. Dish likely would have used Clearwire's spectrum to offer a fixed wireless Internet service. Earlier this month Dish announced it recently completed a test of an LTE fixed wireless Internet technology that delivered speeds of 20 to 50 Mbps using 2.5 GHz BRS spectrum. Dish conducted the tests with regional wireless carrier nTelos, but had said it would deploy virtually the exact same type of service if it was successful in purchasing spectrum from Clearwire. It isn't clear what Dish and its chairman, Charles Ergen, will do next, though analysts speculate that the company will turn its attention to another wireless services provider like T-Mobile US. Meanwhile, Clearwire shareholders will vote on the Sprint proposal July 8. Sprint's $5 per share offer has won the support of minority Clearwire shareholders that were opposed to its earlier, lower offer. Read more -here-
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