SoftBank Won't Raise Sprint Bid, CEO Says

SoftBank Chief Executive Masayoshi Son said his company's offer to acquire Sprint Nextel would provide the U.S. carrier's shareholders with a higher premium than Dish Network Corp.'s competing bid. Speaking to reporters at the Japanese company's quarterly earnings announcement, Son said Dish's $25.5 billion bid for Sprint is "misleading" because Dish doesn't compare it with SoftBank's offer on the same terms. Speaking later at presentation aimed at winning over Sprint shareholders, he said, "Some people ask me, Will SoftBank be increasing the price for the offer? Why should we? We are already providing a better deal than the Dish proposal."