One of the largest shareholders in Sprint-Nextel Corp, Omega Advisors have joined an increasing number of investors that say they are favoring the bid offered by Dish Network Corp amounting to US$25.5 billion compared to the Softbank offer.
Dish Chairman Charlie Ergen had announced the offer to purchase Sprint-Nextel has been challenged by the firm. The announcement drew support from many shareholders, amongst them Paulson & Co.
The chairman of Omega Advisors, Leon Cooperman, who holds both Dish and Sprint-Nextel shares said the Dish bid is leading in terms of value while at the same time praising the offer of Softbank's billionaire founder Masayoshi Son.
According to Cooperman,"We think that Dish's bid at the moment is superior. At the end of the day, either company would make a good steward. They have to decide what it's worth to them."
Omega currently owns 75 million shares of Sprint and is currently the 10th biggest shareholder in the wireless service provider. It also holds 3.7 million shares of Dish network.
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