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Technology Stocks : The *NEW* Frank Coluccio Technology Forum

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To: axial who wrote (2105)	2/22/2001 12:45:55 PM
From: Bernard Levy	Read Replies (2) of 46821

Hi Jim: These calculations assume that the loans will be repaid. This might be the Japanese way (drag the shakeout over 2 decades) but not the Western way. Expect marginal payers to go under and banks to take a bath on their 3G loans. Then the licenses will end up in the hands of better capitalized or newly capitalized players. So, all what the calculations prove is that the current license holders have dug a big hole for themselves. The wireless business (including 3G networks) will survive with or without (mainly without) them. Best regards, Bernard Levy

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