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Technology Stocks : The New Qualcomm - a S&P500 company

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Nov 13 3:59 PM EST

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To: SKIP PAUL who wrote (2848)	11/1/1999 11:37:00 AM
From: slacker711	Read Replies (1) of 13582

Nextel/Nextwave.... news.cnet.com Nextel would offer $6 billion for radio spectrum By Reuters Special to CNET News.com November 1, 1999, 5:10 a.m. PT NEW YORK--A lawyer for Nextel Communications said the wireless communications company would pay more than $6 billion for the radio spectrum the government auctioned to NextWave Telecom for $4.7 billion in 1996, according to reports. But a potential deal is going nowhere because government licenses for the spectrum are tied up in NextWave's bankruptcy proceedings, the Wall Street Journal reported. Federal regulators have been unable to convince Congress to let them reclaim the licenses and auction them immediately, the paper said. Nextel is prohibited from discussing the matter as part of the bankruptcy proceedings, but Nextel lawyer Fordham Huffman made the statement about what the company would be willing to pay for the licenses during an unsuccessful appeal to the court to lift the gag order, the Journal said, citing public records of the October 20 proceedings. Nextel's potential offer is part of a proposed settlement negotiated between Nextel, the Federal Communications Commission, and the Justice Department, the Journal said. However, NextWave chief executive Allen Salmasi told the paper he doesn't believe Nextel intends to go through with a deal, because it would require the FCC to waive certain regulations.

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