Market Vectors’ Fran Rodilosso on Dish Network’s Surprise Bid for Sprint Nextel and What It Might Mean for Fixed Income Investors

NEW YORK--(BUSINESS WIRE)--On Monday, Dish Network announced that it had made a $25.5 billion bid for Sprint Nextel, the third largest wireless carrier in the U.S. and currently the second largest issuer weight (6.3%) in the BofA Merrill Lynch US Fallen Angel High Yield Index (H0FA) that underlies the Market Vectors Fallen Angel High Yield Bond ETF (NYSE Arca: ANGL). The approach detailed by Dish seeks to derail a planned takeover of Sprint Nextel by Japan’s SoftBank. This comes at a time when Sprint Nextel needs to make some key decisions about the company’s future, according to Fran Rodilosso, Fixed Income Portfolio Manager at Market Vectors ETFs.