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Technology Stocks : NEXTEL
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To: Rono who wrote (9837)2/19/2002 11:01:23 PM
From: JF Quinnelly   of 10227
 
Nextel (NXTL) tumbled 27 percent after the company's NII Holdings unit said it expects to record a pre-tax charge of between $1 billion to $2 billion related to the revision of its business plan. NII, which is Nextel's international unit, forecast operating revenue of $680 million, a consolidated operating cash flow loss of $100 million, and 1.19 million global proportionate subscribers for the full-year 2001. NII said that cash preservation initiatives and the proposed debt restructuring resulting from discussions with its creditors precipitated the charge. Affiliate Nextel Partners (NXTP) fell more than 25 percent.
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