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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]

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To: Ken Muller who wrote (1843)	12/6/2001 8:37:17 PM
From: transmission	Read Replies (1) of 1860

Court Approves Winstar Asset Sale By Kristy Bassuener December 6, 2001 Wireless Week Daily Winstar Communications Inc. last week received a Delaware court's approval to sell its assets. The company's law firm Shearman & Sterling held the auction Wednesday in its New York office, according to Dow Jones reports. A Shearman & Sterling spokesman did not return calls by deadline for comment on the outcome of the sale. The sale must be approved by the court, and a hearing is set for Monday at 1 p.m. EST. Objections to the sale are due on Friday. According to Dow Jones, interested parties could bid for some or all of the Winstar assets. Winstar filed for bankruptcy in August, and sought to sell the company or gain an investor. Chairman and CEO William Rouhana and President and COO Nathan Kantor resigned from their positions in order to be eligible to bid for Winstar. Frank Jules, currently president and COO of Winstar's U.S. operations, stepped in as acting CEO and Steven Magyar became the acting chairman.

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