Same news, but a different write-up. I love Salmasi's last line...
Qualcomm to invest in bankrupt NextWave Telecom
CANADIAN PRESS, THE (AP), 8/18/2001 6:35:00 PM
NEW YORK, Aug 18, 2001 (The Canadian Press via COMTEX) -- NextWave, the bankrupt company fighting to retain ownership of wireless licences the U.S. government took over and reauctioned for $17 billion US, has started building a next-generation wireless network with the help of some of the top U.S. telecommunications firms.
Unveiling details of its $5 billion US reorganization plan, NextWave executives said that Lucent Technologies has already begun to build its next-generation network.
NextWave also announced a $300 million investment and new technical assistance from Qualcomm, a leader in digital wireless technology and one of the company's original investors.
Chairman and chief executive Allen Salmasi dismissed suggestions that NextWave, which has paid just $500 million toward the licences it bought from the Federal Communications Commission for $4 billion, was simply trying to increase the price his company might fetch from a competitor coveting its wireless spectrum.
"This has been a field of dreams," Salmasi said of the company's six-year struggle to create its network, "and I can't attach any price to it. How much would you sell your baby for?"
Ibexx |
