ENGLEWOOD, Colo. -- Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting to vote on a deal.
Dish's bid of $4.40 in cash per share is 29 percent higher than Sprint's bid of $3.40 per share. Sprint wants to buy the half of Clearwire that it doesn't already own.
Dish's previous offer, from January, was for $3.30 per share.
Dish Network Corp. chairman Charlie Ergen said in a statement that Clearwire's wireless spectrum -- space on the airwaves -- is key to Dish being able to deliver future services.
Dish has also offered to buy Sprint.
Clearwire shares are up 22 percent to $4.23 in after-hours trading.