This summer’s most anticipated blockbuster involves an eccentric Japanese tycoon buying an American mobile phone network on behalf of a Chinese company planning to infiltrate the US national security infrastructure. A Michael Bay production? No; this release is too inane even for the director of Armageddon and Transformers.

The script comes from Charlie Ergen, boss of US satellite company Dish Network. Dish is locked in battle with the Japanese mobile company SoftBank over Sprint, the number three US mobile network, and has initiated a campaign to detonate a SoftBank/Sprint tie-up. The argument is that a Japanese company that uses equipment made in China threatens the very existence of America and everything it holds dear. (More about this mortal threat can be found at nationalsecuritymatters.com; the page notes that Dish is its sponsor, but says nothing about Dish’s own interest in owning Sprint.)

In noisy summer films, details like acting, script and plot often get lost among special-effects pyrotechnics. So here is a handy guide what the plot should be, and the proper role for each actor: Dish should be focused on putting its best bid forward, and explaining why it offers more value to Sprint shareholders. Its headline valuation for Sprint appears higher, after all. Dish should simply drop its (red) scare campaign, which makes it appear xenophobic, jingoistic and, worst of all, desperate – as if its bid is inadequate on merit. US politicians, meanwhile, should let the regulatory process run its course. So far, thankfully, politicians have stayed away from the heated rhetoric heard years ago when Chinese and Middle Eastern companies pursued US assets. The regulatory process allows for remedial actions, and SoftBank has reportedly agreed to have a Sprint board member dedicated to national security issues. Finally, shareholders should focus on which deal gives them the most benefit.