SYMBOL: NXTL
REASON CODES: 5
NARRATIVE DESCRIPTION:
WASHINGTON (FFBN) -- Nextel International Inc., a wholly owned
subsidiary of Nextel Communications Inc., plans to issue $300 million of
senior discount notes due 2008.
The company plans to sell the notes in a March 1998 private
placement, according to a filing with the Securities and Exchange
Commission.
Upon completion of sale of the notes, Nextel International's
stake in Canadian wireless communications operator, Clearnet
Communications Inc., will increase to 19.4%. Currently, Nextel holds a
3.7% interest in Clearnet, according to Nextel International's most
recent quarterly report.
In addition, Nextel International announced it expects to
launch enhanced specialized mobile radio (ESMR) service in Sao Paulo,
Brazil during the first half of this year; in Buenos Aires and Rio de
Janeiro during the second quarter of this year; and in Mexico City and
Manila during the third quarter of this year.
The company did not immediately respond to phone calls seeking
comment.
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(END) FEDERAL FILINGS-DOW JONES NEWS 03-02-98
14:47
03/02/98 14:47
:TICKER: NXTL
:SUBJECT: TLMB SCEV COBO MNA CFIN
Copyright (c) 1998 Federal Filings, Inc. - A Dow Jones Information Services Co.
Received by NewsEDGE/LAN: 3/2/98 3:44 PM |
