x PhoneArena is looking for new authors! To view all available positions, click here.
  • Home
  • News
  • Stock proxy advisory firm ISS recommends support for SoftBank acquisition of Sprint

Stock proxy advisory firm ISS recommends support for SoftBank acquisition of Sprint

Posted: , by Maxwell R.

Tags:

Stock proxy advisory firm ISS recommends support for SoftBank acquisition of Sprint
Institutional Stockholder Services has made the recommendation that Sprint stockholders vote in favor of the proposed 70% acquisition by SoftBank out of Japan.

Citing SoftBank’s track record in Japan, ISS says that the merger would bring “demonstrable and potentially critical technological expertise [to Sprint].” Japan’s number three carrier has been successful in its home market through aggressive pricing and infrastructure enhancements, reviving the former Vodafone carrier.

The most compelling item that ISS noted however was that SoftBank’s offer brings sorely needed capital investment for the carrier to improve its network in the US and also poses the best options to pay down the debt burden that Sprint has been trying to pay against since it acquired Nextel.

Stockholders will vote about the merger on June 12th. If the vote goes in SoftBank’s favor, the merger will close by July 1st assuming that a special committee of Sprint's Board of Directors does not have anything new to add from DISH's competing proposal.

source: Sprint

Press Release

1 Comments
  • Options
    Close




posted on 03 Jun 2013, 07:56

1. DonLouie (Posts: 594; Member since: 22 Dec 2008)


Now let's see if this board approves it and also if the Clearwire board accepts Sprint's offer over Dish's....

Want to comment? Please login or register.

Latest stories