Dish Network is reportedly making a play for shares of Clearwire Corp., which could complicate a planned purchase of the broadband company by Sprint Nextel. In an effort to better compete in the U.S. wireless market, Sprint had agreed to purchase the roughly 50 percent of Clearwire that it does not already own. Additionally, Sprint agreed to a $20 billion acquisition by Japan’s SoftBank Corp. However, Dish also made a $25.5 billion offer to acquire Sprint. 

“Clearwire delayed its shareholder vote as a result of the bid until June 13, while Sprint’s shareholders will vote on the deal with SoftBank on June 12,” reports the Wall Street Journal. “While Dish stands little chance of taking over Clearwire given Sprint’s big shareholdings, it could in theory win enough of a minority stake to create unwanted headaches for Sprint and SoftBank as they try to knit the companies together.”

“Dish Chairman Charles Ergen is looking to get into wireless as growth in its satellite television business slows and to offer his subscribers a competitive high-speed Internet access service,” notes the article. “The company’s tender is for all of Clearwire, but it wants at least a 25 percent stake, along with governance rights and seats on the company’s board.”

“I find it fascinating that the market is giving so much credibility to Charlie Ergen’s poker moves,” said investor Robert Chapman, who “began betting against Clearwire’s shares Thursday,” notes WSJ.