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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 137.24

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To: JGoren who wrote (101169)	7/3/2001 4:51:45 PM
From: Ibexx	Read Replies (1) of 152472

Tuesday July 3, 4:33 pm Eastern Time NextWave got $200 million financing pact from BFD NEW YORK, July 3 (Reuters) - Bankrupt wireless telephone company NextWave Telecom Inc. got $200 million in debtor-in-possession financing from a fund managed by BFD Capital, the German private equity firm said on Tuesday. BFD Captial said the loan, which was approved by a bankruptcy court on June 13, includes $90 million to finance NextWave's nationwide wireless network. NextWave said on Monday it hired Lucent Technologies Inc. (NYSE:LU - news) to begin building its wireless network, signaling it would use coveted licenses a court handed it back last month. ``Having this financing on hand enables us to resume critical construction activities. The funds give us the capability to jumpstart our overall network deployment effort while we put the finishing touches on a reorganization plan that will fund a full-scale network build-out,'' said NextWave chairman Allen Salmasi. NextWave last month won a crucial victory when a U.S. appeals court ruled that the Federal Communications Commission violated bankruptcy laws when it repossessed wireless telephone licenses from the company because of its failure to make timely payments. The FCC re-auctioned those licenses to other companies earlier this year. While the FCC could appeal that decision, NextWave has said it will move ahead in building an always-on mobile Internet service. Ibexx

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