DISH Network's bid for Clearwire (CLWR) is "not actionable" because of legal issues, says Sprint...

|About: DISH Network Corporation (DISH)|By:, SA News Editor
DISH Network's bid for Clearwire (CLWR) is "not actionable" because of legal issues, says Sprint (S) in a letter to Clearwire's board. "To be clear, certain provisions of the Dish proposal require Sprint's consent ... Sprint will not vote in favor of the proposal, tender its shares in the offer or waive any of its rights as a stockholder." Crest Financial urges Clearwire to form a special committee to consider the Dish offer: "Dish's tender offer has shifted the battle ... to where it belongs - a competitive bidding process for Clearwire."