Sprint gets waiver from Softbank, permitting discussions with Dish

Mon May 20, 2013 8:30pm EDT

May 20 (Reuters) - Sprint Nextel said it has received from SoftBank Corp a waiver of various provisions of their merger agreement, permitting it to engage in discussions with Dish Network Corp.

The waiver will permit Sprint and its representatives to furnish non-public information concerning Sprint to DISH Network Corp. and to engage with DISH in discussions and negotiations regarding its proposal made on April 15, 2013.

Sprint said its recommendation in favor of the SoftBank agreement has not changed.

Sprint said its board of directors has not determined that the Dish proposal in fact constitutes a superior offer under the existing merger agreement, and there can be no assurance that the dish proposal will ultimately lead to a superior offer.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.