A PYMNTS Company

Asia/US: Dish undercuts SoftBank in Sprint deal with bribery scandal

By  |  May 1, 2013

Dish Network has formally filed a complaint with the US Federal Communications Commission in an effort to block the pending merger between telecommunications companies Sprint and Japan-based SoftBank, claiming corruption. According to reports, Dish has cited a Department of Justice plea bargain made by a SoftBank-linked company in which the company admitted to making $7 million in bribes to Chinese telecommunications officials to win contracts. UTSI reportedly ties itself to SoftBank and has admitted to corruption to the DOJ – a scandal highlighted by Dish in its protest of the merger filed to the FCC. Dish competed with SoftBank for the acquisition of Sprint Nextel, offering $25.5 billion, to top SoftBank’s $20 billion offer.

Full Content: Newsmax

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.