Two leading shareholder advisory firms offered contrasting views on whether Clearwire shareholders should approve Sprint Nextel's $2.97 per share offer, worth around $2.2 billion, to take control of the rest of Clearwire it does not already own. Shareholders are set to vote on the deal May 21.
Dish Network Chairman Charlie Ergen said that the company has multiple backup options for its wireless plans if its $25.5 billion bid for Sprint Nextel does not succeed against SoftBank's $20.1 billion proposal to buy 70 percent of Sprint.
SoftBank CEO Masayoshi Son said his company's experience deploying TD-LTE in Japan will give it a clear advantage over Dish Network, which is competing with SoftBank to take control of Sprint Nextel. Sprint expects to integrate TD-LTE into its network via its pending acquisition of Clearwire, which is building a TD-LTE network.
Dish Network continued to hammer back against SoftBank, claiming that its unsolicited $25.5 billion offer for Sprint Nextel is clearly superior to the Japanese operator's $20.1 billion offer for 70 percent of Sprint.
Clearwire, facing down angry minority shareholders, urged them approve Sprint Nextel's $2.97 per share offer to take control of the rest of Clearwire it does not already own. Shareholders are set to vote on the deal May 21.
Dish Network Chairman Charlie Ergen hit back against SoftBank CEO Masayoshi Son, and asserted that Dish's $25.5 billion bid to take control of Sprint Nextel would be better for the United States.
SoftBank CEO Masayoshi Son said he does not see a need for Sprint Nextel to raise its $2.97 per share offer to take control of Clearwire, and that Sprint would be happy owning merely 65 percent of the company.
The battle between Japan's SoftBank and Dish Network for control of Sprint Nextel is getting nastier, with Dish warning the FCC that it should take into account SoftBank's ties to UTStarcom, which settled bribery allegations in 2009 with the Department of Justice.
SoftBank CEO Masayoshi Son said his company would not raise its $20.1 billion offer for 70 percent of Sprint Nextel to compete with Dish Network's unsolicited $25.5 billion counterbid because SoftBank's offer is already superior.
Sprint Nextel said SoftBank has given it permission to obtain more information from Dish Network regarding Dish's $25.5 billion bid for Sprint. However, SoftBank's waiver does not let Sprint disclose nonpublic information or negotiate with Dish.