dslreports logo
site
spacer

spacer
 
   
spc
story category
Sprint Files Suit Against Dish, Clearwire
Still Claims Dish Proposal Illegal
by Karl Bode 08:40AM Tuesday Jun 18 2013 Tipped by SrsBsns See Profile
Earlier this month Sprint tried to scrap Dish's proposed takeover of Clearwire by arguing that the proposal was technically illegal under Delaware law. Now Sprint has filed a new lawsuit against both Dish and Clearwire in an effort to prove it and derail the deal once and for all. According to the lawsuit, Dish has "repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in an effort to acquire Clearwire's spectrum and to obstruct Sprint's transaction with Clearwire." The fuss over Clearwire's spectrum has resulted in the Wall Street Journal calling the historically dismally-performing Clearwire the "darling of telecom" in a report yesterday.

view:
topics flat nest 

Transmaster
Don't Blame Me I Voted For Bill and Opus

join:2001-06-20
Cheyenne, WY

vultures fighting over the carcass

The Lions have already left the spectrum kill and now the Jackals, and Vultures are fighting over what is left.
josephf

join:2009-04-26
Reviews:
·VoicePulse

Sprint Is In The Legal Right

DISH's proposal for Clearwire includes a clause that says DISH, as a minority stakeholder, can override the vote of Clearwire's majority stakeholder.

That is clearly a breach of contract and corporate law to involuntarily take away the natural ownership rights of a company's majority stakeholder (Sprint).

KGT

@rr.com

Dish Offer

Dish and Charlie need to cut this nonsense out. They will lose. Why do they see the need to try and interfere/cause trouble where they need not?
A minority shareholder asking for majority rights is not acceptable.
It's no wonder Sprint is suing.

In other news, the proposed Dish offer to buy Sprint has just about failed. Everyone can see that Charlie would be mortgaging Dish to the MAX in order to finance such a buyout.
The resulting company would start out it's new life loaded with debt, it's new owners clueless about how to run a wireless phone company.
Sprint would just be driven into the ground if such a deal were to go through.

atuarre
Here come the drums
Premium
join:2004-02-14
Conroe, TX

Re: Dish Offer

Maybe that is what he wants, to drive Sprint into bankruptcy so DISH can keep the spectrum.
TBBroadband

join:2012-10-26
Fremont, OH

Re: Dish Offer

Which Sprint is basically in all ready and will be without Softbank's $$$. And will still keep going there if Dan decides to increase fees and prices as many outlets have reported him saying.

atuarre
Here come the drums
Premium
join:2004-02-14
Conroe, TX

Re: Dish Offer

said by TBBroadband:

Which Sprint is basically in all ready and will be without Softbank's $$$. And will still keep going there if Dan decides to increase fees and prices as many outlets have reported him saying.

I like Dan, because I think if he would not have come along, it would just have been more of the same, however, I do hope Sprint gets Clear, and I hope Softbank gets Sprint.

They won't put up with that incompetence. I think they will either put Hesse elsewhere or send him packing and put someone from Softbank @ Sprint and I hope they run it just like they run the companies over there.
TBBroadband

join:2012-10-26
Fremont, OH
DISH and Charlie still has time to make another offer to Sprint. That time does not run out for a couple more days. One would guess that they will make another offer just before that time runs out.

SrsBsns

join:2001-08-30
Oklahoma City, OK

Dish....

How long could this drag out the purchase of Clearwire? I assume Dish only did this to hurt Sprint's competitiveness because there is no way they really thought they could get away with it.