Sprint Claims Dish Clearwire Offer Illegal
As the Best Soap Opera in Telecom Continues...
Sprint has responded to Dish's recent improved offer to acquire Clearwire
-- by claiming that the proposed acquisition is illegal. In a letter sent to Clearwire board members, Sprint claimed that Dish's offer violates Delaware state law, where Clearwire is incorporated. "In its letter, Sprint noted that several rights demanded by DISH, including a contractual agreement to designate at least three Clearwire Board members and the right to veto certain Clearwire actions are violations of the EHA or Delaware law," Sprint said in a press release
. "Likewise, the DISH proposal calls for Sprint to effectively give up certain of its rights and ignores the requirement that Sprint and other EHA holders must consent to the rights DISH has required as a condition to its tender offer."