NXTL press----- XO + NXTL + McCaw options???
[B] FULL: Nextel gets $107.5 million from options exercise by
Nextel Receives $107.5 Million In Option Exercise Proceeds; McCaw Group
Adds To Nextel Investment
RESTON, VA.-- --JULY 27, 2001--NEXTEL COMMUNICATIONS
INC. (NASDAQ:NXTL) TODAY ANNOUNCED THAT $107.5 MILLION IN CASH WAS RECEIVED
IN CONNECTION WITH THE EXERCISE BY THE MCCAW FAMILY OF ITS OPTION TO PURCHASE
10 MILLION SHARES OF NEXTEL COMMON STOCK.
THIS OPTION WAS GRANTED WITH THE MCCAW FAMILY'S INITIAL 1995 INVESTMENT
IN NEXTEL AND WAS TO EXPIRE ON JULY 28, 2001.
"THIS MOST RECENT OPTION EXERCISE BRINGS THE TOTAL CASH AMOUNT INVESTED
BY THE MCCAW GROUP SINCE 1995 TO MORE THAN $1 BILLION," SAID TIM DONAHUE,
NEXTEL'S PRESIDENT CEO. "WE ARE VERY PLEASED TO HAVE THE ADDITIONAL INVESTMENT
FROM THE MCCAW FAMILY AS WELL AS CRAIG MCCAW'S CONTINUED VISION AND GUIDANCE."
Nextel Communications Inc., based in Reston, Va., is a leading provider
of fully integrated wireless communications services and has built the
largest guaranteed all-digital wireless network in the United States covering
thousands of communities across the United States. Nextel and Nextel Partners
Inc., currently serve 188 of the top 200 U.S. markets.
Through recent market launches, Nextel and Nextel Partners service
is available today in areas of the U.S. where approximately 220
million people live or work. In addition, through Nextel
International, Inc., Nextel has wireless operations and investments in
Canada, Mexico, Argentina, Brazil, the Philippines, Peru, Chile and Japan.
Visit Nextel at www.nextel.com. |
