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Jun 7, 2013

Ontario Teachers to vote for SoftBank/Sprint deal

NEW YORK (Reuters) – The Ontario Teachers Pension Plan, the fifteenth biggest shareholder in Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz), said on Friday it intends to vote for SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) plan to buy 70 percent of Sprint for $20.1 billion.

The pension plan owned 40.2 million shares, or 1.33 percent, of Sprint, according to the latest publicly available information.

Jun 6, 2013

NSA is collecting phone records of Verizon customers: report

SAN FRANCISCO/NEW YORK (Reuters) – The U.S. National Security Agency is collecting telephone records of millions of Verizon Communications customers, according to a secret court order obtained and published by the Guardian newspaper’s website.

The order marked “Top Secret” and issued by the U.S. Foreign Intelligence Surveillance Court directs Verizon’s Business Network Services Inc and Verizon Business Services units to hand over electronic data including all calling records on an “ongoing, daily basis” until the order expires on July 19, 2013.

Jun 6, 2013

U.S. NSA is collecting phone records of Verizon customers -report

SAN FRANCISCO/NEW YORK, June 5 (Reuters) – The U.S. National
Security Agency is collecting telephone records of millions of
Verizon Communications customers, according to a secret
court order obtained and published by the Guardian newspaper’s
website.

The order marked “Top Secret” and issued by the U.S. Foreign
Intelligence Surveillance Court directs Verizon’s Business
Network Services Inc and Verizon Business Services units to hand
over electronic data including all calling records on an
“ongoing, daily basis” until the order expires on July 19, 2013.

Jun 5, 2013

Glass Lewis tells investors to hold off on Sprint-SoftBank vote

NEW YORK (Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) shareholders should not vote on SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) takeover bid on June 12 as Dish Network’s (DISH.O: Quote, Profile, Research, Stock Buzz) rival $25.5 billion offer was still being reviewed, proxy advisory firm Glass Lewis said on Tuesday.

Dish’s proposal “appears to be a bona fide offer from an interested and capable third-party” and is potentially superior to SoftBank’s $20.1 billion bid to buy 70 percent of Sprint, the firm said.

Jun 4, 2013

Glass Lewis advises no vote on Sprint-SoftBank deal

NEW YORK (Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) shareholders should not vote on SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) takeover bid on June 12 while Dish Network’s (DISH.O: Quote, Profile, Research, Stock Buzz) rival $25.5 billion offer was still being reviewed, proxy advisory firm Glass Lewis said on Tuesday.

Dish’s proposal “appears to be a bona fide offer from an interested and capable third-party” and is potentially superior to SoftBank’s $20.1 billion bid to buy 70 percent of Sprint, the firm said.

Jun 4, 2013

Sprint slams Dish’s latest offer for Clearwire

By Liana B. Baker and Sinead Carew

(Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) urged Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz) to reject Dish Network’s rival bid for the wireless service provider, saying that a deal under Dish’s terms would be illegal and violate Clearwire’s agreement with its shareholders.

Sprint, which made its case in a letter to Clearwire’s board on Monday, already owns a majority stake in Clearwire and is tussling with Dish to buy out minority shareholders.

May 31, 2013

Dish puts Sprint bid for Clearwire under pressure

NEW YORK, May 30 (Reuters) – One of the biggest minority
shareholders in Clearwire Corp, on Thursday urged the
wireless company to recommend against Sprint Nextel Corp’s
buyout offer after Dish Network Corp made a counter
bid.

Crest Financial, which holds about 8 percent of Clearwire
shares, said Clearwire should open itself to competitive
bidding, and said that even though Dish’s bid late Wednesday
appeared superior it may still prove inadequate to shareholders.

May 30, 2013

Clearwire to postpone vote on Sprint bid-sources

NEW YORK, May 30 (Reuters) – Clearwire Corp is
expected to postpone its shareholder vote on Sprint Nextel
Corp’s offer to buy the company after Dish Network Corp
made a higher counterbid, two sources familiar with the
situation said on Thursday.

Clearwire shareholders were due to vote on Friday on
Sprint’s offer to buy Clearwire for $3.40 a share, but will
postpone the meeting after Dish Chairman Charlie Ergen made a
bid of $4.40 late Wednesday, according to one source, who asked
not to be named because of lack of authorization to comment.

May 22, 2013

Clearwire, shareholders brace for fight over Sprint bid

NEW YORK, May 22 (Reuters) – Clearwire Corp
appeared to be on the brink of another fight with its
shareholders on Wednesday as the wireless service provider
approved Sprint Nextel Corp’s sweetened buyout offer while
minority shareholders said the bid was too stingy.

Clearwire announced its decision to support majority
shareholder Sprint a day after Sprint raised its offer for the
almost 50 percent of the company it does not already own to
$3.40 per share from $2.97 per share.

May 21, 2013

Sprint raises Clearwire offer, not enough for some

By Sinead Carew

(Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) raised its buyout offer for wireless service provider Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz) to $3.40 per share, though some investors and analysts said the new bid was still not enough to overcome staunch opposition.

Clearwire shares almost immediately traded at the new offer price, having consistently traded well above the old $2.97-per-share bid. As recently as last week, analysts and investors said the deal was unlikely to be approved unless Sprint raised its bid substantially.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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