SoftBank greenlights limited Sprint takeover talks with DISH

04/27/2013 | Wall Street Journal, The · CNET · Wall Street Journal, The · Reuters

SoftBank has given Sprint Nextel permission to discuss DISH Network's $25.5 billion takeover bid with the satellite provider -- a rival bid to the Japanese carrier's own $20.1 billion offer for 70% control of the U.S. telecom. The SoftBank waiver does not allow direct negotiations with DISH but will let Sprint obtain more information on the bid. On Friday, Sprint confirmed that its shareholders would vote June 12 on the SoftBank deal, pending government approval of Sprint's proxy filing. Also at Sprint, Clearwire investor Aurelius Capital on Friday sued the telecom to keep it from acquiring the remaining shares in the wireless service provider. The hedge fund also sued Clearwire directors, alleging they surrendered their legal fiduciary duties.

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