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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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To: Ramsey Su who started this subject	11/10/2001 9:39:10 AM
From: Cooters	Read Replies (1) of 197297

NextWave Wireless Settlement Stalled - Wash. Post WASHINGTON (Reuters) - An agreement between bankrupt NextWave Telecom Inc. (NXLC.PK) and the federal government over wireless licenses, which the company recently said was at hand, has been stalled, the Washington Post reported on Saturday. The company told a bankruptcy court on Thursday that it had agreed to return its wireless licenses as part of a $16 billion settlement between the government and several of the nation's largest wireless companies. But the Post said despite round-the-clock meetings there is still no signed deal, and it cited sources close to the talks as saying negotiations are expected to stretch into next week, at least. The agreement has been complicated by the competing interests of several government agencies, NextWave's investors and companies including Verizon Wireless (VX.N)(VOD.L), Cingular Wireless (BLS.N)(SBC.N) and AT&T Wireless Services Inc. (AWE.N), the Post said. The complex deal would result in NextWave collecting about $5 billion from the settlement and the government getting about $11 billion, the newspaper reported. The goal of the deal, the Post noted, is to resolve a six-year controversy over a huge slice of airwaves controlled by NextWave. The company bid $4.7 billion for the licenses at a 1996 auction but failed to come up with the money to pay for them, the paper reported. The deal has been delayed by disagreement over details including the dates when the money will be paid and the licenses will change hands, but Congressional staffers have also expressed concern about its terms, the Post said. The newspaper quoted one staffer as saying the proposed agreement protects the interests of wireless companies but appears to hand a windfall to a troubled company that has never served a single customer. 07:35 11-10-01

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