| NEW YORK, June 7
NEW YORK, June 7 The Ontario Teachers Pension
Plan, the fifteenth biggest shareholder in Sprint Nextel Corp
, said on Friday it intends to vote for SoftBank Corp's
plan to buy 70 percent of Sprint for $20.1 billion.
The pension plan owned 40.2 million shares, or 1.33 percent,
of Sprint, according to the latest publicly available
It did not provide details on its website on how it came to
its decision ahead of a June 12 special meeting where
shareholders are due to vote on the deal.
Several other shareholders have said, however, that they
were not happy with the SoftBank deal after Dish Network
made a rival $25.5 billion offer for Sprint on April
Dish has been taking a closer look at Sprint's books for the
last few weeks as it had said that its offer was subject to the
completion of a due diligence process.
Hedge fund titan John Paulson, whose fund is the second
biggest shareholder with 7.7 percent of Sprint according to
public data, said in April that Dish's offer was compelling and
offers more value to Sprint shareholders.
Omega Advisors, the ninth biggest Sprint shareholder with
more than 2 percent of Sprint shares, has also said that Dish
Chairman Charlie Ergen's offer was in the lead.