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Technology Stocks : NEXTEL
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To: Rono who wrote (9750)8/29/2001 12:23:15 PM
From: p friend  Read Replies (1) of 10227
 
I believe the bonds were issued by Nextel International. If we checked out the cash in their bank account it may not be too full. Nextel was not obligated to put in more cash into Nextel International. Probably the funds got squeezed by Nextel into taking this or watching Nextel International get closer to default on the bonds. The funds got Nextel stock in exchange for Nextel International debt.

How does this sound for an explanation? It sure did seem like an unusual deal to an outsider.
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