SoftBank allows Sprint to conduct talks with Dish

OVERLAND PARK, Kan. (AP) ? Sprint Nextel says SoftBank is allowing it to seek more information from Dish Network related to its rival bid for the third-largest U.S. cellphone company.

Overland Park, Kan.-based Sprint has agreed to sell 70 percent of itself to Japan's Softbank Corp. for $20.1 billion. But it recently got a competing $25.5 billion offer from Dish Network Corp. for the whole company.

Under the agreement with SoftBank, Sprint can enter into a non-disclosure agreement and talks with Dish so it can clarify and obtain additional information from Dish related to its bid for the company.

Sprint isn't allowed to provide non-public information to Dish and can't enter into negotiations with the company.

SoftBank says it remains confident in its offer and expects the deal to close in July.

Associated Press

Source: http://hosted2.ap.org/apdefault/495d344a0d10421e9baa8ee77029cfbd/Article_2013-04-29-SoftBank-Sprint/id-09abc435a1ce4b52a7d23b4206d213f8

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