Deals
Goldman, Citigroup Said Wary of Ergen as He Mulls T-Mobile Bid
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Dish Network Corp. co-founder Charlie Ergen likes to say his corporate strategy is all about “optionality.” Wall Street banks also have options -- and, for some, working with Ergen isn’t on the top of their list.
Goldman Sachs Group Inc., Citigroup Inc. and Wells Fargo & Co. all view the 43rd-richest man in the world as a client of last resort when it comes to deals, people with knowledge of the matter say. The banks are turned off by his willingness to back out at the last minute -- as he did with a 2007 sale to AT&T Inc. and a 2007 purchase of Sirius XM Holdings Inc. -- and his hard-nosed negotiating over fees and deal terms.