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Technology Stocks : Nextwave Telecom Inc.

WAVE 6.820

-2.8%

Nov 28 12:51 PM EST

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To: Michael Allard who started this subject	3/4/2002 5:14:51 PM
From: Dennis Roth	Read Replies (2) of 1088

"We want our money back and the auction terminated," Verizon Co -Chief Executive Ivan Seidenberg. Verizon Cuts Another 10,000 Jobs story.news.yahoo.com Excerpt: Reacting to the Supreme Court's decision to hear the NextWave Telecom Inc. wireless-spectrum case, Mr. Seidenberg said, "We want our money back and the auction terminated." Verizon bid more than $8 billion in a Federal Communications Commission auction last year for spectrum that a federal appeals court later remitted to NextWave. Verizon's deposit on the spectrum remains with the federal government. "We'd like more spectrum," he added. "We'd like to pay less for it." Asked if Verizon might acquire other wireless companies to increase its spectrum, Mr. Seidenberg said, "We did our move two years ago" by joining forces with Vodafone Group PLC (VOD), which has a minority stake in Verizon Wireless. " We feel we can solve all our growth issues with more spectrum without somebody else's baggage, so to speak." He also brushed aside the idea of acquiring a large wireline company. Asked about acquiring another Baby Bell, WorldCom Group (WCOM) or AT&T Corp. (NYSE: T - news) (T), Mr. Seidenberg said any of those companies would dampen Verizon's growth prospects. He added AT&T and WorldCom are too expensive.

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