ISS backs Softbank's $20B Sprint bid

Sprint Nextel shareholders should vote for SoftBank Corp's proposed $20.1 billion purchase of the No. 3 U.S. mobile provider, proxy advisory firm Institutional Shareholder Services said, a recommendation that potentially deals a blow to a $25.5 billion rival bid from Dish Network. ISS said Dish's bid was too preliminary for it to give an opinion on it.