Key Points
- DISH The network's shares fell more than 12% on Friday following a report that it plans to sell assets to pay for its 5G rollout by the end of the month.
- The company's efforts to form the partnerships have stalled.
- DISH Network shares have lost over 53% of their value so far this year.
DISH Network (DISH) shares plunged by more than 12% on Friday following a report that the struggling satellite TV provider is seeking to raise funds to pay for its plan to provide 70% of the United States with 5G coverage of the country. here the end of the month.
Chairman Charlie Ergen is said to have explored many partnership options, but none appear to have moved forward. Among them was a proposed merger of DISH with DirecTV, a rival owned by AT&T (T) and TPG (TPG).
DISH shares had surged last week on indications Amazon (AMZN) could partner with the company to offer wireless phone service to Amazon Prime customers.
However, with Friday' ;s decline, DISH Network shares have lost more than 53% of their value so far this year.
YCharts
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Source: investopedia.com
