B_B schreef op 7 mei 2013 17:23:
Ergen Files For Own Sprint Stake; Slim A Partner?
By REINHARDT KRAUSE, INVESTOR'S BUSINESS DAILY
Posted 05/06/2013 11:45 AM ET
Sprint Nextel (S) confirmed Monday that Dish Network (DISH) Chairman Charles Ergen would take a personal stake "in excess of 50%" in the wireless firm's common stock as part of the satellite-TV broadcaster's takeover bid. And an analyst speculated Ergen might take on a partner in his Sprint bid, a company controlled by one of the world's richest men, Carlos Slim.
IBD reported last week that if Ergen succeeds in wresting Sprint from Japan-based SoftBank and its chief, Masayoshi Son, he stands to be the boss of a much bigger "controlled company" than Dish.
Sprint in a statement said that it "had received formal notification under the Hart-Scott-Rodino Antitrust Improvements Act that Charles Ergen, chairman of Dish Network, has filed to acquire in excess of 50% of Sprint's Series 1 common stock, through Dish Network or a wholly owned subsidiary of the company."
As a result of Ergen's submission, the HSR Act requires Sprint to make filings with the Department of Justice and Federal Trade Commission.
Macquarie Capital, meanwhile, on Monday speculated in a report that Ergen could bring in America Movil (AMX), controlled by multibillionaire Carlos Slim, as a partner to sweeten its offer for Sprint.
Dish Network in April offered to buy Sprint Nextel for $25.5 billion in cash and stock, aiming to derail Japan-based SoftBank's earlier deal to buy 70% of the wireless firm for $20.1 billion. Here is one recent IBD report.
Ergen owned 52% of Dish's total equity at the end of 2012, including 100% of its class B stock, which isn't traded. Ergen, who founded the satellite broadcaster in 1980, holds 88% of the total voting power in Dish equity.
Dish has cobbled together wireless spectrum licenses, aiming to sell 4G wireless and mobile video services. A Sprint special committee set up to review the Dish offer might report soon.
One drawback to Dish's offer for Sprint is the debt burden the combined company would be stuck with. Some analysts have speculated that Dish Network could bring in Google (GOOG) as a partner, as IBD reported. In a report published Monday, Macquarie analysts Kevin Smithen and Amy Yong said America Movil also looms as a partner. America Movil operates TracFone in the U.S., which has 23.2 million subscribers.
"America Movil is the best partner for Dish, especially if AMX is severing its ties with AT&T (T) as (its) management has indicated is possible," said the Macquarie report.
Dish and Slim are already cooperating in a new satellite TV venture in Mexico, the report points out.
"We see the ability for Slim and Ergen to create a bilingual cross-border wireless and pay-TV convergence powerhouse that would pose a major threat to AT&T, Verizon (VZ) and Televisa and help offset some of the competitive challenges both companies face in their core markets," Macquarie said.
But Macquarie says Slim is only likely to expand in the U.S. if AT&T sells its stake in America Movil, about 9%, as it has indicated it might.
news.investors.com/technology/050613-...,yahoo