Sprint gets approval from SoftBank to gain more details on Dish offerAlex Wagner - Deputy Managing Editor, News Desk
Looks like the love triangle that's currently taking place between Sprint, SoftBank and Dish Network will continue on for now. Sprint announced this morning that it's received permission from SoftBank to meet with Dish and obtain more information the $25.5 billion bid that Dish made for Sprint earlier this month. Sprint says that it cannot share any non-public information with Dish, nor can it enter any kind of negotiations with the company.
Sprint entered into an agreement with SoftBank last year that would see the latter carrier dropping $20.1 billion for a 70 percent stake in Sprint. However, Dish Network caught many folks off guard earlier this month when it made a $25.5 billion offer for Sprint, resulting in a situation that has two large companies fighting to take a majority stake in the Now Network.
Sprint says that it doesn't plan on making any comments on this matter until its Special Committee can determine whether or not Dish's proposal is superior to the one from SoftBank. It's not yet clear when that'll happen, but now that Sprint and its Special Committee are now talking with Dish about the $25.5 billion bid, this matter has become even crazier and more interesting than it was before.