Dish Network said it won't submit a new offer for Sprint Nextel by its Tuesday deadline, a move that appears to clear the way for the third largest U.S. wireless carrier to be bought by SoftBank of Japan.
Investor Daniel Loeb's hedge fund Third Point has boosted its stake in Sony to 6.9%, ratcheting up a bid to convince the Japanese electronics giant to launch an initial public offering of its entertainment division.
John Malone's Liberty Global is in talks to buy Germany's biggest cable operator, Kabel Deutschland, a move that could set off a bidding war with Vodafone. Liberty Global has been expanding aggressively in Europe.
Heard on the Street: Alcatel-Lucent's shares have risen by more than a quarter since Michel Combes was appointed CEO on hopes the former head of Vodafone in Europe will take a knife to the telecom-equipment maker's business.