Entries with tag pending telecommunications mergers.

Telefónica Proposes Changes to Secure German Mobile Company

Telefónica, the Spanish telecommunications firm, is offering to lease spectrum and provide network access to its market in order to court favor with European Union officials for its pending $11.59 billion purchase of E-Plus in Germany. This amends its preliminary offer after input from European Commission officials. Regulators are concerned this consolidation will further reduce competition in the German market and have been worried about consolidation throughout the European market. Telefónica says it would lease spectrum above 2 Gigahertz to mobile network operators, which would cover 100 German cities, and would provide access to mobile virtual network operators at wholesale rates. It has also proposed the sale of 10,000 cell sites and 50 retail outlets. Third parties can submit comments through 17 April 2014. A decision is expected by 23 June 2014. Telefónica has not commented on the matter. (Reuters)(Financial Times)

EU Approves Microsoft-Nokia Deal

European Union antitrust regulators announced they have unconditionally approved Microsoft’s $7.3 billion acquisition of the Nokia mobile device division. The European Commission said the transaction raises no competition concerns. The deal was previously approved by Nokia shareholders and the US government. (Reuters)(Tech Crunch)
 

SoftBank Not Changing Bid for Sprint despite Competition

Although facing stiff competition in its quest to buy Sprint Nextel’s wireless business, leading suitor SoftBank is not changing its $20.1 billion bid for 70 percent of the company. Satellite-communications company Dish Network recently made a $25.5 billion counteroffer, giving Sprint shareholders $7 per share and 32 percent equity in the combined DISH/Sprint. Executives with SoftBank, a Japanese telecommunications firm, say they expect to complete the Sprint purchase, which regulators are reviewing now, by 1 July. Intel is backing SoftBank in the deal, saying in a recent letter to the US Federal Communications Commission that the merger would bring more competition to the US wireless market. A special meeting for Sprint shareholders to vote on the issue is tentatively scheduled for 12 June. (Reuters)(IT World)
 

Dish Network Bids $25.5 Billion for Sprint

Satellite TV provider Dish Network has submitted an informal $25.5 billion bid for Sprint Nextel, upping a previous offer from Japanese telecommunications company SoftBank. Dish has offered Sprint shareholders $4.76 in cash and roughly $2.24 in stock that would be financed through $17.3 billion in cash and debt financing. SoftBank offered $20.1 billion in October 2012. Sprint—the third-biggest US cellular provider with 56 million subscribers—has yet to comment on the Dish proposal. Sprint is currently the No. 3 cellphone service provider in the United States with 56 million subscribers nationwide. (ZDNet)(CNNMoney)(The New York Times)(Dish)
 

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