Dish Network owned $592 million in “derivative financial...
Dish Network owned $592 million in “derivative financial instruments” connected to Sprint Nextel’s stock as of May 1, along with $75 million in Sprint shares as of March 31, the company said in a filing with the Securities and Exchange…
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Commission released Thursday (http://1.usa.gov/12hmOvS). Dish made a preliminary bid to buy 68 percent ownership in Sprint for $25.5 billion (CD April 16 p1); Sprint is still considering that offer, but its shareholders are set to vote June 12 on an earlier $20.1 billion bid from SoftBank that would give it 70 percent ownership. Dish said it also owned $950 million in Clearwire debt at the end of Q1. Clearwire shareholders plan to vote May 21 on whether to accept Sprint’s bid to buy remaining ownership of the company for about $2.97 per share, for an estimated total of $2.2 billion; Dish later made a counteroffer of $3.30 per share for the Clearwire stock.