Satellite TV provider Dish Network is looking to derail Sprint’s deal with SoftBank and acquire the carrier with a $25.5 billion bid. Dish has offered $17.3bn in cash and $8.2bn in stock for 100% of Sprint shares, and the company argues that the deal represents a 13% premium over SoftBanks “complicated” bid to acquire 70% for $20.1 billion.
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Sprint has today announced its fourth quarter and full year financial results for 2012, and they don’t make for pleasant reading. Despite healthy smartphone sales driven by the iPhone, the carrier reported a loss of $1.3 billion for during the three-month period, which is the same figure it lost during Q4 2011. It also saw more than 1 million Nextel subscribers jumping ship.
SoftBank, Japan’s third-largest carrier, has this morning announced that it will acquire Sprint in a deal worth $20.1 billion. The company will purchase $8 billion in newly-issues shares from Sprint, in addition to $12.1 billion in existing shares — giving it a 70% stake overall.
Japan’s third-largest carrier is reportedly in talks to buy control of Sprint, according to two people familiar with the matter. SoftBank wants to snap up two-thirds of the company with a stake worth “more than” 1.5 trillion yen ($19 billion), and it’s also eyeing Sprint’s partner, Clearwire, too.
Waiting in line for the latest iPhone is by no means a pleasant experience. Sure, Apple often hands out free coffee and cakes, but I’d sooner stroll into the store and straight back out again and pay for my own coffee on the way home. But for millions of us this morning, standing in line is the only way to secure an iPhone 5 on launch day.
That is, if you’re a law-abiding citizen. If you’re not, you might consider breaking into a local carrier store and stealing more than $100,000 worth of iPhone 5 units — just like thieves in Japan did today.
For Apple, the iPhone’s clean desktop is simply an extension of its overall minimalist design. While keeping control of what apps appear on the smartphone makes fans of users, forbidding so-called carrier ‘junkware’ could be a deal-breaker for NTT DoCoMo, Japan’s largest wireless provider.
Those who queued outside Softbank stores in Japan eager to be the one of first the get their hands on the iPhone 4S today were frustrated when a server glitch caused problems with purchasing for over three hours after the device went on launch. Softbank doors opened at 8 AM especially for the new device, but service wasn’t completely restored until around 11 AM.