Andre Yoskowitz
30 Apr 2013 0:11
Earlier this month, Dish Network made a large $25.5 billion bid for Sprint Nextel, besting an existing offer from Japanese carrier Softbank.
The company, which has been hoarding cash for a large acquisition, would use Sprint as a compliment to its current offerings, bundling TV, Internet and wireless phone services. Dish offered $17.3 billion in cash and an additional $8.2 billion in stock for complete control of the company. Softbank offered $20 billion for a 70 percent stake and Sprint agreed to the merger last year.
Today, Sprint received a waiver from SoftBank, allowing them to enter into a NDA and preliminary discussions with DISH "for the purpose of clarifying and obtaining further information from DISH regarding its proposal made on April 15, 2013."
What the waiver does not allow, is for Sprint to enter into real negotiations or provide any non-public information.