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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.01-0.3%Nov 14 9:30 AM EST
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To: YlangYlangBreeze who wrote (65584)2/1/2000 12:44:00 AM
From: GO*QCOM  Read Replies (3) of 152472
 
I am no expert but I have been in QUALCOMM stock since early 92 so I will give it a shot from memory best to my recollection.Nextwave Telecom is a company founded by some early QUALCOMM executives.The ambition of the new company was to acquire as many licenses in the 900 spectrum bandwidth.The bandwidth was scheduled to be auctioned off by the FCC and was termed the C Block.The designated spectrum was available to bidders who were in the small business category.QUALCOMM could not participate because it was a big business and ineligible.Nextwave sought financial backing of approximately 25 percent from foreign entities to help buy up the licenses in the auction.The rest of the money they were to pay back the FCC over a period of years and thought they could do an IPO stock offering to raise the money.Wall street soured on that area at the time so Nextwave never had an opportunity to raise the capital and then slid into bankruptcy.Nextwave all along planned to give QUALCOMM a huge infrastructure order for CDMA base stations and phones.Nextwave's licences were originally bid for to the tune of over 4 billion and later the courts reduced the money owed to around 1 billion.The FCC has tried to due Nextwave in by causing a sudden death of the company by twisting the bankruptcy law to there advantage but the appellate court balked at the FCC in favor of Nextwave.Nextwave now has the chance to pay for its licenses with new sponsorship from companies like Global crossing and Liberty Media.Nextwave plans to roll out HDR to become the first USA company to do a nationwide high speed CDMA wireless network.
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