Key Date: Sprint Nextel Corporation (S), DISH Network Corp (DISH), and Clearwire Corporation (CLWR)

There’s strong sentiment from Crest Financial and others against the deal, and it does have the capacity to prevent the deal. In that case, DISH Network Corp (NASDAQ:DISH) could potentially swoop in and take Clearwire Corporation (NASDAQ:CLWR), and thus encourage a DISH-Sprint merger; or they could initiate a bidding war, which would appease Clearwire’s activists, and likely sell the company to Sprint, leaving DISH Network Corp (NASDAQ:DISH) to fight for Sprint or go home.

Investors in all three companies should keep an eye on the May 21 proceedings. On one end, Sprint Nextel Corporation (NYSE:S) and Softbank are the winners. On the other, you’ll likely see a boost to Clearwire Corporation (NASDAQ:CLWR) and DISH Network. For both ends, it will be the first major decision point for the battle that began nearly six months ago.

The article A Crucial Date Ahead for Sprint, DISH, and Clearwire originally appeared on Fool.com is written by Michael Lewis.

Fool contributor Michael Lewis has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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