Let's say you're the head of Corp. Dev. at Sprint. Softbank's $8B capital injection that will appear in your Treasury group's coffers (several months from now?) is already burning a hole in your pocket, and you're looking around for spectrum to build out at least halfway competitive 4G services.
Do you approach Clearwire, which you can bend over a barrel in negotiations, or do you approach DISH, which has no urgent need to do anything it doesn't want to do? I'd first try the former.
But perhaps this has already occurred and resulted in failure / impasse because of Clearwire's dogmatically sticking with WiMax and TD-LTE, both of which Sprint may not want to bet the farm on. I guess that would make DISH spectrum an alternative... but it seems like a stretch, at some indeterminate point in the future.
Dunno. I'm now wavering and thinking this run-up may be more of a short opportunity than a case for further gains.