Japan's Softbank says it will complete its deal with Sprint on July 1st, despite Dish offer18
If Softbank were to turn around and walk away, it would end up considerably richer for its efforts. A convertible bond that Softbank bought from Sprint could be sold for a $1 billion profit, and if Sprint decides to go with Dish or another suitor or even if it merely walks away, the Japanese communications firm would receive a $600 million break-up fee. Judging from Softbank's statement though, it plans on closing the deal and its a message to Dish that the Japanese firm is not going to back down.
This will also impact the situation with wireless wholesaler Clearwire, which on Friday received an offer believed to be from Verizon, to lease spectrum in major markets for $1.5 billion.