Wireless pioneer McCaw to increase investment in Nextel
king5.com
May 14, 2001, 03:30 PM
KIRKLAND – – Wireless-phone pioneer Craig McCaw will boost his investment in Nextel Communications Inc., McCaw's holding company, Eagle River Investments LLC, said Monday.
Eagle River said McCaw will exercise additional stock options in July and August, Dow Jones News Service reported.
Nextel, best known for its two-way radio feature on the side of its phones, and Motorola Inc. granted the options to McCaw in connection with his family's original purchase agreement with Nextel. The McCaw family agreed to invest up to $1.16 billion in Nextel equity in April 1995.
McCaw also said he is thinking of distributing some of the Nextel shares owned by the family holding company, Digital Radio LLC, to McCaw family members.
Eagle River wasn't immediately available to comment on how many Nextel shares it owns or controls. Nextel, based in McLean, Va., has 764.3 million shares outstanding.
In late trading Monday, shares of Nextel were at $18.09, up 20 cents, or 1.1 percent on the Nasdaq Stock Market. |
