Sprint Nextel S today announced that it had received from SoftBank
Corp. a waiver of various provisions of the merger agreement between Sprint
and SoftBank. The waiver will permit Sprint and its representatives, including
the Special Committee of the Sprint board, to enter into a non-disclosure
agreement and discussions with DISH DISH for the purpose of clarifying and
obtaining further information from DISH regarding its proposal made on April
15, 2013. The SoftBank waiver does not permit Sprint to provide non-public
information to DISH nor does it enable Sprint to enter into negotiations with
DISH. Such actions may be taken by Sprint only in accordance with the
Sprint-SoftBank merger agreement.
Sprint does not intend to make any further comment on the work of the Special
Committee until it completes an assessment with respect to whether the DISH
proposal is, or is reasonably likely to lead to a Superior Offer (as defined
in the Sprint-SoftBank merger agreement) and the Sprint board has considered
such assessment.
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