Sprint S today issued the following statement in response to
Clearwire's CLWR announcement that a special committee of Clearwire's board of
directors is considering a proposed transaction from DISH.
“Sprint believes its agreement to acquire Clearwire, which offers Clearwire
shareholders certain and attractive value, is superior to the highly
conditional DISH DISH proposal.
“In contrast, the DISH proposal includes a series of interdependent commercial
agreements, debt and equity purchases and spectrum sales, which together with
the other conditions required by DISH to complete the transaction, makes the
proposal not viable. In addition, the DISH proposal would require Sprint to
voluntarily waive rights that it holds as a stockholder of Clearwire and that
it possesses through various vendor and customer contracts that significantly
predate Sprint's proposed acquisition of the remainder of Clearwire. Sprint
does not intend to waive any of its rights and looks forward to closing the
transaction with Clearwire and helping consumers across the country realize
the benefits of this combination.”
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