Intel CEO Paul Otellini endorsed SoftBank’s buy of Sprint...
Intel CEO Paul Otellini endorsed SoftBank’s buy of Sprint Nextel, which he sees as superior to a Dish Network buy of the wireless carrier. Intel filed an email Otellini sent FCC Chairman Julius Genachowski as an ex parte contact with…
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the agency. Otellini said he was traveling in Asia where he met with SoftBank CEO and founder Masayoshi Son. “I simply wanted to add my name to the list of companies hoping that Softbank will be able to acquire Sprint, rather than Dish,” he said (http://bit.ly/154jAjS). “Son-san’s vision to build a high speed competitive third national network is very compelling. We need this competition in the wireless space as the ATT/Verizon model is not giving that to consumers at this time. I just wanted you to know where I and Intel stand on this important matter.” Meanwhile, Dish said it received a nondisclosure agreement from Sprint Nextel about Dish’s proposal to buy the wireless company. Dish provided information to a special committee of Sprint’s board that will examine Dish’s $25.5 billion bid for the company, Dish said Monday in a press release (http://bit.ly/ZZmbTF). Dish is confident it has exceeded the standards required in the proposed agreement between Sprint and SoftBank “in terms of providing a bona fide written proposal that is reasonably likely to lead to a superior offer,” it said. Sprint said it received a waiver from SoftBank of various provisions of the merger agreement between Sprint and SoftBank. The waiver doesn’t allow Sprint to provide non-public information to Dish “nor does it enable Sprint to enter into negotiations with Dish,” Sprint said Monday in a press release (http://bit.ly/10P7E49). Sprint doesn’t plan to comment further on the work of the special committee “until it completes an assessment with respect to whether the Dish proposal is, or is reasonably likely to lead to a superior offer,” it said.