McCaw Family to Purchase 15Million Shares
July 29, 1999 06:15
Nextel Announces McCaw Family Option Exercise
RESTON, Va., July 29 /PRNewswire/ -- Nextel Communications, Inc., (Nasdaq: NXTL) a leading provider of fully integrated wireless communications services, today announced that Craig O. McCaw and his family have exercised their options to purchase 15 million shares of Nextel common stock. Proceeds from the exercise totaled $277.5 million and were received yesterday prior to option expiration.
Nextel Communications, based in Reston, Va., has built the largest guaranteed all-digital wireless communications network in the United States covering thousands of communities. Nextel and Nextel Partners, Inc., currently serve 92 of the top 100 U.S. markets. The Nextel National Network offers a fully integrated wireless communications tool with digital cellular, text/numeric paging and Nextel Direct Connect(R) -- a digital two-way radio feature. In addition, through Nextel International, Inc., Nextel has wireless operations and investments in Canada, Mexico, Argentina, Brazil, the Philippines, Peru, Japan and Shanghai, China. Please visit Nextel's web page at nextel.com.
SOURCE Nextel Communications, Inc.
/CONTACT: Investors: Paul Blalock, 703-433-4300, Media: Ben Banta,
703-433-4700, both of Nextel Communications, Inc./
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 605375/
/Web site: nextel.com
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