Softbank said it expects to complete the $20 billion deal to acquire 70 per cent of US operator Sprint in July, despite satellite TV player Dish lodging a $25.5 billion bid earlier this week.

The Japanese company said in a statement that it believes its bid offers Sprint shareholders “superior short and long term benefits” compared to Dish’s “highly conditional preliminary proposal”.

It added that the Softbank/Sprint transaction is in “the advanced stages of receiving the necessary approvals” with completion expected on 1 July 2013. Softbank’s original approach was made in October 2012.

The Dish offer is worth 13 per cent more than the Softbank deal in terms of cash and stock, with Sprint shareholders gaining a stake in the combined company, compared to just shares in Sprint with the Softbank deal.

Hong Kong-based regional telecoms analyst at JI Asia, Neil Juggins, told Reuters that the Sprint deal is probably the “one shot” Softbank’s CEO, Masayoshi Son, has of building a global company that he has promised, and so is unlikely to walk away.

A Tokyo based analyst added that they expect Softbank to return with a higher offer if Sprint progresses with the Dish bid.

If Softbank decides to turn its back on the deal, it would still be in line to make a profit of around $3.5 billion through a $600 million break-up fee and gains from currency hedging and a convertible bond, according to Reuters.

Juggins said there would be short term benefits for Softbank to exit the deal, although its shareholders “would mark them down quite heavily” if it did so.