Sprint Gets SoftBank Permission to Explore DISH Bid
Sprint Nextel has received the go-ahead from SoftBank to obtain more information from DISH Network regarding its merger proposal of April 15, Sprint announced today.
SoftBank is the Japanese telecom that last fall agreed to purchase a 70% slice of Sprint for $20 billion. The DISH counteroffer is for $25.5 billion. Sprint announced last week that it had formed a "special committee" to review DISH's unsolicited offer.
Sprint received the waiver from SoftBank on the condition that the company not disclose any non-public information to DISH during their talks and not enter into negotiations with the satellite pay-TV provider.
The U.S. carrier said it does not intend to make any further statements about the DISH proposal until it assesses whether that offer is or could be superior to SoftBank's merger agreement.
The article Sprint Gets SoftBank Permission to Explore DISH Bid originally appeared on Fool.com.Fool contributor Dan Radovsky has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.