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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: gruetz who wrote (1744)3/31/2001 12:27:06 AM
From: Bernard Levy  Read Replies (1) of 1860
 
Hi gruetz:

No auction needs to take place if debts holders
can agree on a reorganization or liquidation plan.
In the current market, ART's spectrum licenses would
not fetch anything close to $370M. Qwest being one
of the debt holders has the inside track on getting the
licenses, provided it can offer a deal to the other
debt holders they would view as satisfactory. ART
has an excellent spectrum footprint, but in sheer BW
it represents perhaps only 1/3rd of the BW of WCII or
XOXO (note that ART's ring architectures tend to
be BW efficient, so that BW is probably not an issue).

I am not confident TGNT can reorganize (its business
plan is very ambitious, requires too much money, and
faces too much competition). This one will probably end
up as an asset sale. I hope that WCII has a plan on
the shelves to blitz TGNT's current customers. This
would be an easy way to pick up a big chunk of extra
revenue in a very tough market, but would require
a lot of things to go right (such as landlord
cooperation, which might depend on what type of legal
contract they had with TGNT).

Note that if you are worried about WCII's common, it
might be possible to buy its converts (I have not
figured out how to do it yet, but will post later a
link to convert quotes on the Nasdaq site).

Best regards,

Bernard Levy
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