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Technology Stocks : Nextwave Telecom Inc.
WAVE 5.350+2.1%12:40 PM EST
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To: JohnG who wrote (358)6/22/2001 11:33:56 AM
From: JohnG  Read Replies (1) of 1088
 
FRom Ben G on buy range.

Regarding Nextwave - Dow Jones reporting that a court has ruled the FCC erred in canceling spectrum licenses for
Nextwave - Today's court ruling appears to put the re-auction of the licenses in doubt
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10:48 ET Nextel Comms (NXTL) 16.45 +0.19: -- Update -- (a company that went bankrupt a few years ago). Nextel
bid for Nextwave back in 1999 in an attempt to acquire its licenses and has been eager to bid on the licenses when
and if the FCC re-auctions them. Today's court ruling appears to put the re-auction of the licenses in doubt, though
the market might perceive this as positive for NXTL given the perception that firms have overpaid for licenses in
recent years.

11:18 ET NextWave Ruling : Merrill Lynch comments on NextWave court ruling: says that the NextWave licenses
which the FCC reclaimed were a large portion of a Jan 2001 re-auction at which the top three bidders were Verizon
Wireless (VZ), AT&T Wireless (T), and Cingular. Merrill says that the FCC could appeal the ruling, could settle
reach a settlement in which it compensates NextWave, or could grant NextWave the licenses. Merrill believes that the
decision will mean more delays for carriers hungry for more frequency.

briefing.com
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