Clearwire Falls After Dish Says It Won’t Block Sprint

Clearwire, the wireless Internet company that agreed to be acquired by Sprint Nextel, fell in trading after Dish Network said it won’t seek regulatory action to block the transaction.

Dish in a letter told the Federal Communications Commission it decided not to file a petition opposing Sprint’s acquisition by Tokyo-based Softbank Sprint’s Clearwire transaction is being reviewed as part of the $20 billion Softbank bid. The U.S. Justice Department, in a filing posted today on the FCC’s website, asked the FCC to defer consideration of the Softbank acquisition. The department, including the FBI, and the Department of Homeland Security are reviewing the proposal for national security and law enforcement issues, according to the filing. Dish said it is in “continued negotiations” to acquire Clearwire.