DISH Network Abandons Its Bid For Sprint

DISH Network Corp (NASDAQ:DISH) dropped out of the bidding to buy mobile phone carrier Sprint Nextel Corporation (NYSE:S), paving the way for Sprint Nextel Corporation (NYSE:S)’s acquisition by SoftBank Corp (PINK:SFTBF) (TYO:9984). The Douglas Country-based satellite TV company, DISH Network Corp (NASDAQ:DISH), didn’t submit a new offer for Sprint Nextel Corporation (NYSE:S) by the Tuesday deadline. Late Tuesday, the satellite TV company said it was “impracticable” to meet the deadline. SoftBank’s $25.5 Billion Offer Last week, SoftBank Corp (PINK:SFTBF) (TYO:9984) agreed to enhance its offer for Sprint Nextel Corporation (NYSE:S) by 7.5 percent to $21.6 billion to counter DISH Network Corp (NASDAQ:DISH)’s…