Sprint Dishes Out a Lawsuit Over Clearwire

Sprint Nextel Corp. has slapped Dish Network Corp. with a lawsuit over its bid for Clearwire LLC, claiming it violates investor rights. Sprint, Clearwire's majority owner, said Monday that it is suing Dish in state court in Wilmington, Del. Both are vying to acquire the 4G wholesaler, but Clearwire's board of directors last week recommended stockholders approve Dish's higher bid, turning the tables on Sprint, which thought it had the deal sewn up. Sprint is alleging that Clearwire can't accept an offer from Dish without its permission since it owns just over 50 percent of the company and that Clearwire isn't able to give Dish the veto powers and board seats it is demanding. Sprint, of course, won't sign off on a deal for Dish, since it is just as eager to take over control of its valuable spectrum holdings. For more
Dish Network has been causing drama for Sprint (and Softbank Corp.) for the better part of the year. Read up on the sordid love triangle below. — Sarah Reedy, Senior Editor, Light Reading

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