Last month Sprint Nextel agreed to purchase a 50 percent stake in Clearwire. But Dish Network is looking to expand its service offerings by making a more attractive offer to acquire the wireless broadband provider.
Clearwire agreed to sell to Sprint last month for $2.2 billion (about $2.97 a share). The debt ridden wireless broadband company, however, now finds itself in the middle of a bidding war after receiving a counter offer from Dish for $5.5 billion.
Even though Dish is offering 11 percent more than Sprint, Clearwire might not be able to entertain the offer. In a recent statement, Clearwire stated it is "significantly limited by its current contractual arrangements" to negoiate with Dish.
Sprint recently released a statement addressing the matter:
None
The acquisition would benefit Dish greatly, seeing as the company recently received approval from the Federal Communications Commission to build its own LTE network.
[via CNET]
