Why would Sprint reject an offer from Providence Equity Partners and SK Telecom? After all, they were allegedly offered to replace their management and invest $5 billion in the company. Could Sprint have something already worked out with another company? Are they so sure of themselves and comfortable with where they are heading. Could it have anything to do with the fact that these are foreign investors?
In the letter on Nov. 10, the two companies wrote that they would address the “key operating challenges facing” Sprint and significantly cut costs by jointly purchasing handsets and examining network infrastructure.
The board declined to meet with them, according to those briefed on the matter.