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Sprint is turning a bidding battle into a legal battle today say here's what happened sprint.
Yesterday filed a lawsuit suing dish to stop dish.
For buying Clearwire in which sprint holds more than 50% just over 50%.
Can't keep up at this tangled web because we also throw in another name that Softbank instead of -- -- here to hopefully Dennis unravel all of it for us our.
Idol is our guys -- got a tail here greed betrayal.
And band -- not consider the improbable a bidding war for spread it's an also ran in US wireless a mishmash of incompatible systems number three.
And yet one side we've got sprint and its preferred takeover partners Softbank -- -- and -- bank of Japan's largest wireless carrier.
In Japan other side he's DISH Network.
And -- TV provider in the US with no cellular phone experience at all and caught the middle may be the real treasurer of this entire thing which is Clearwire itself.
They did to -- money lose an upstart that to sprint already controls.
Yet now Clearwire is telling its other shareholders to side with dish against its majority -- spread talk about betrayal and then there's a supporting player not to forget.
John Paulson the hedge fund hot -- he's a big spread holder any keeps switching sides OK so a time like.
-- October Softbank boom in Japan bids twenty million dollars for 7% a spread.
Three days later this Brent says you know what.
We want to by the -- Clearwire and buys over -- -- -- from the founder then last December sprint offers to mart arrests for two point one billion dollars.
And raises its bid for this to -- wire four days later almost three bucks a share.
Then three days -- three weeks later January.
Dish bids for Clearwire three dollars thirty cents a share almost a 30% premium never mind that a few weeks later in February of this year.
Clearwire would have -- to go to its majority -- -- say hey you know what I'm sure to catch you need to bail me out by mid April -- adds a bid for all of sprint clearly though it wants Clearwire.
25 point five billion dollars in cash and stock.
Lower value than what Salt Lake -- but it's gonna -- the whole kitten to bloom not just to 70% stake.
And just a day later John Paulson turncoat strap holder publicly support the the dish deal.
Not to worry he switches -- began after swapping comes back and raises it's bid.
For -- And so by may -- an open warfare Softbank.
Crashing dishes -- neophyte with too much debt threatening Wall Street firms that if you guys help dish go up against us.
You're not gonna get any of our other business so we take our stake -- Alibaba public and Wall Street wants that China IPO.
Threatening Wall Street firms this chief Charlie -- and then saying hey I might sell the entire company if I don't get spread.
They're all bluffing here this is really play for Clearwire and band with a money losing company belliard -- four billion dollars that shows you how Bible list.
Spectrum really is never.
The one true punch and on your screen how they're all trading right now it's clear wire interestingly enough the one everybody wants.
It's moving lower while it's just six pennies down that's one of a 3% hit dish is moving higher along with Sprint Nextel Dennis.
I think they didn't loser in this -- to the being the winner I don't know that you -- -- buy sprint it's a -- play well you put it altogether for us and now.
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