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Technology Stocks : NEXTEL
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To: Rono who wrote (9299)8/12/1999 11:39:00 PM
From: JF Quinnelly  Read Replies (1) of 10227
 
"ABN Amro said it repeated a hold rating for NEXTEL
COMMUNICATIONS based on the belief that the company's stock is
fairly valued under its current business model. On Wednesday
Nextel struck a deal with federal authorities to pursue purchase
of airspace from a bankrupt company. ABN Amro analyst Kevin Roe
said the purchase from NextWave Personal Communications Inc. of
airspace spanning territory where 165 mln people live provides the
possibility of an expansion of Nextel's network and an eventual
upgrade to 3G wireless services. Roe said in a report that the
deal "raises the potential for the emergence of a new business
plan for Nextel, changing the company's overall financial and
strategic focus." Nextel's stock is currently fairly valued, Roe
said. (Reuters 02:26 PM ET 08/12/99)"

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