Dish Network chairman-backed SPAC in talks to buy wireless business unit

CONX

13/10/2022 02:37

Oct 12 (Reuters) - Blank-check firm CONX Corp  CONX.O ,
backed by Dish Network Corp  DISH.O  Chairman Charles Ergen,
said on Wednesday it has begun preliminary discussions to
acquire Dish's retail wireless unit, Boost Mobile.
    The special-purpose acquisition company (SPAC) said it will
appoint a special committee of independent and disinterested
directors to evaluate and approve the terms of any deal with the
pay-TV and wireless carrier.  urn:newsml:reuters.com:*:nPn15h1Zva
    Dish confirmed that it was in preliminary talks with CONX.
"We do not intend to provide further updates unless and until
those discussions conclude in agreement as to a transaction," a
company spokesperson said in an email to Reuters.
    Dish acquired Boost Mobile in 2020 as part of the T-Mobile
 TMUS.O  and Sprint merger after the companies agreed to divest
some assets including some wireless spectrum to create a new
wireless competitor.  urn:newsml:reuters.com:*:nL3N2WW2GK
    CONX also asked its stockholders to vote in favor of a
proposal to extend the date by which it must complete a business
combination with Boost Mobile from Nov. 3, 2022 to June 3, 2023.
A special meeting of its stockholders will be held on Oct. 31,
it added.
 (Reporting by Akanksha Khushi in Bengaluru; Additional
reporting by Baranjot Kaur Editing by Subhranshu Sahu)
 ((Akanksha.Khushi@thomsonreuters.com;))