Sprint Issues Statement on Clearwire Transaction

  Sprint Issues Statement on Clearwire Transaction

Business Wire

OVERLAND PARK, Kan. -- January 8, 2013

Sprint (NYSE: S) today issued the following statement in response to
Clearwire’s announcement that a special committee of Clearwire’s board of
directors is considering a proposed transaction from DISH.

“Sprint believes its agreement to acquire Clearwire, which offers Clearwire
shareholders certain and attractive value, is superior to the highly
conditional DISH proposal.

“In contrast, the DISH proposal includes a series of interdependent commercial
agreements, debt and equity purchases and spectrum sales, which together with
the other conditions required by DISH to complete the transaction, makes the
proposal not viable. In addition, the DISH proposal would require Sprint to
voluntarily waive rights that it holds as a stockholder of Clearwire and that
it possesses through various vendor and customer contracts that significantly
predate Sprint’s proposed acquisition of the remainder of Clearwire. Sprint
does not intend to waive any of its rights and looks forward to closing the
transaction with Clearwire and helping consumers across the country realize
the benefits of this combination.”

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel served nearly 56 million
customers at the end of the third quarter of 2012 and is widely recognized for
developing, engineering and deploying innovative technologies, including the
first wireless 4G service from a national carrier in the United States;
offering industry-leading mobile data services, leading prepaid brands
including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant
national and international push-to-talk capabilities; and a global Tier 1
Internet backbone. The American Customer Satisfaction Index rated Sprint No. 1
among all national carriers in customer satisfaction and most improved, across
all 47 industries, during the last four years. Newsweek ranked Sprint No. 3 in
both its 2011 and 2012 Green Rankings, listing it as one of the nation’s
greenest companies, the highest of any telecommunications company. You can
learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and
www.twitter.com/sprint.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of
the securities laws. The words “may,” “could,” “should,” “estimate,”
“project,” “forecast,” intend,” “expect,” “anticipate,” “believe,” “target,”
“plan,” “providing guidance” and similar expressions are intended to identify
information that is not historical in nature.

This press release contains forward-looking statements relating to the
proposed Merger between the Company and Clearwire pursuant to the Merger
Agreement and the related transactions (collectively, the “transaction”). All
statements, other than historical facts, including statements regarding the
expected timing of the closing of the transaction; the ability of the parties
to complete the transaction considering the various closing conditions; the
expected benefits and synergies of the transaction; the competitive ability
and position of the Company and Clearwire; and any assumptions underlying any
of the foregoing, are forward-looking statements. Such statements are based
upon current plans, estimates and expectations that are subject to risks,
uncertainties and assumptions. The inclusion of such statements should not be
regarded as a representation that such plans, estimates or expectations will
be achieved. You should not place undue reliance on such statements. Important
factors that could cause actual results to differ materially from such plans,
estimates or expectations include, among others, (i) any conditions imposed in
connection with the transaction, (ii) approval of the transaction by Clearwire
stockholders, (iii) the satisfaction of various other conditions to the
closing of the transaction contemplated by the Merger Agreement, (iv) legal
proceedings that may be initiated related to the transaction, and (v) other
factors discussed in Clearwire’s and the Company’s Annual Reports on Form 10-K
for their respective fiscal years ended December 31, 2011, their other
respective filings with the U.S. Securities and Exchange Commission (the
“SEC”) and the proxy statement and other materials that will be filed with the
SEC by Clearwire in connection with the transaction. There can be no assurance
that the transaction will be completed, or if it is completed, that it will
close within the anticipated time period or that the expected benefits of the
transaction will be realized. None of the Company, Clearwire or Collie
Acquisition Corp. undertakes any obligation to update any forward-looking
statement to reflect events or circumstances after the date on which the
statement is made or to reflect the occurrence of unanticipated events.
Readers are cautioned not to place undue reliance on any of these
forward-looking statements.

Additional Information and Where to Find It

In connection with the transaction, Clearwire will file a proxy statement and
other materials with the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO
READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CLEARWIRE AND
THE TRANSACTION. Investors and security holders may obtain free copies of
these documents (when they are available) and other documents filed with the
SEC at the SEC’s web site at www.sec.gov. In addition, the documents filed by
Clearwire with the SEC may be obtained free of charge by contacting Clearwire
at Clearwire, Attn: Investor Relations, (425) 505-6178. Clearwire’s filings
with the SEC are also available on its website at www.corporate.clearwire.com.

Participants in the Solicitation

Clearwire and its officers and directors and the Company and its officers and
directors may be deemed to be participants in the solicitation of proxies from
Clearwire stockholders with respect to the transaction. Information about
Clearwire officers and directors and their ownership of Clearwire common
shares is set forth in the proxy statement for Clearwire’s 2012 Annual Meeting
of Stockholders, which was filed with the SEC on April 30, 2012. Information
about the Company’s officers and directors is set forth in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2011, which was
filed with the SEC on February 27, 2012. Investors and security holders may
obtain more detailed information regarding the direct and indirect interests
of the participants in the solicitation of proxies in connection with the
transaction by reading the preliminary and definitive proxy statements
regarding the transaction, which will be filed by Clearwire with the SEC.

Contact:

Sprint Nextel
Media Contact:
Doug Duvall, 571-287-8153
Douglas.Duvall@sprint.com
or
Investor Contact:
Brad Hampton, 800-259-3755
investor.relations@sprint.com
 
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