SoftBank upped its bid for Sprint Nextel by $1.5 billion to $21.6 billion, giving DISH Network until June 18 to make its "best and final offer," Sprint said. SoftBank's new offer would give the Japanese carrier 78% control of Sprint and put an additional $4.5 billion into the hands of investors -- meaning less cash for Sprint to invest in its 4G network. While Sprint put off its scheduled Wednesday vote on SoftBank's initial offer, Clearwire shareholders were still on track to vote Thursday on Sprint's buyout proposal, although some on Wall Street said Clearwire may push back the decision a third time to consider DISH's bid.

Related Summaries