Charlie Ergen’s Dish Network is bidding to buy telco Clearwire. It seems that Dish, in offering $2.2 billion for all of Clearwire’s shares (at $3.30 a share), has beaten existing Clearwire shareholder Sprint Nextel in the race to acquire the telco business.

Sprint Nextel takes a different view and said it had no intention of waiving any of its rights, and with a bid already on the table (at $2.97) and owning 50.8 per cent of Clearwire, it has certain advantages. Other Clearwire shareholders include Comcast, Time Warner Cable, Google and Intel.

Dish, in a statement, confirmed that it has formally approached Clearwire Corporation with respect to a potential strategic transaction on terms as generally outlined in the Clearwire release, including an offer to purchase all of the Clearwire common shares at $3.30.  “We look forward to working with Clearwire’s Special Committee as it evaluates our proposal,” said Tom Cullen, DISH EVP/ Corporate Development.

Clearwire is the 5^th largest wireless provider in the US with around 11 million subscribers, most of them signed up via Sprint. Clearwire has other assets in Spain and Belgium.

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Categories: Articles, Broadcast, Business, DTH/Satellite, M&A