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Oct 12 (Reuters) – Blank check company CONX Corp ( CONX.O ), backed by Dish Network Corp ( DISH.O ) Chairman Charles Ergen, said on Wednesday it had begun talks to acquire Dish’s retail wireless unit, Boost Mobile.
The special purpose acquisition company (SPAC) has announced that it will appoint a special committee of independent and disinterested directors to review and approve any deal with the pay TV and wireless service provider.
Dish confirmed that it is in preliminary talks with CONX. “We do not intend to provide further updates until discussions have reached an agreement on the transaction,” a company spokesman said in an email to Reuters.
Dish acquired Boost Mobile as part of a 2020 merger between T-Mobile ( TMUS.O ) and Sprint after the companies agreed to acquire some assets, including some wireless spectrum, to create a new wireless competitor. Read more
CONX has asked its stockholders to vote in favor of the proposal to extend the date on which the business combination with Boost Mobile must be completed from November 3, 2022 to June 3, 2023. A special meeting of the shareholders will be held in October. 31, added.
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Reporting by Akanksha Khushi in Bengaluru; Additional reporting by Baranjot Kaur Editing by Subhranshu Sahu
Our standards: The Thomson Reuters Trust Principles.
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