Sprint Nextel Corp has urged Clearwire Corp to reject the offered bid made by Dish Network. Sprint stated that a deal with Dish would mean a violation with Clearwire's agreement with its shareholders.
However, Sprint has written a letter to the board of Clearwire stating that it already owns the majority stake and is only dealing with Dish to be able to buy out shareholders minority share.
Dish has challenged Sprint with a US$4.40 per share while Sprint bid a US$3.40 per share. The fight over Clearwire has generated a bigger drama that involves the future fate of Sprint. Dish also made an offer to buy Sprint at US$25.5 billion however, Japan's SoftBank Corp already made a previous agreement to buy Sprint.
Sprint stated that there are a lot of conditions with the Dish offer for Clearwire that are next to impossible to fulfill. This is because of all the requirements needed to be agreed upon by its shareholders. These shareholders include Sprint that stated not giving up any of its rights with regards to the said deal.
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