Dish Network Corp. abandoned its effort to acquire Sprint Nextel Corp., making way for bidding rival SoftBank Corp. to gain control of the third-biggest U.S wireless carrier.

Dish, in a regulatory statement today, didn’t specify why it was pulling out of the bidding. The Englewood, Colorado-based company said it would redeem $2.6 billion of bonds that it had issued in May in connection with its bid.

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