Nextwave Telecom Inc. Message Board

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Technology Stocks : Nextwave Telecom Inc.

WAVE 8.150

-0.9%

Nov 11 3:59 PM EST

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To: slacker711 who wrote (779)	3/27/2002 5:59:32 PM
From: Dennis Roth	Read Replies (2) of 1088

The 3 percent of the total bid which the FCC still holds is equal to the penalty that could be assessed if Verizon were to withdraw their winning bids. But I don't think that Verizon would let it rest there. I think they would go to court to try and get the 3% back and argue that the whole auction should be invalidated because of the large time that has lapsed between the auction and the possible license award. Verizon did not bid $8 billion with the understanding that there would be a 2 plus year delay in delivery. What was worth 8 billion to them in December of 2000 may not be worth 8 billion to them if delivered in March 2003. The could argue that such an auction was some sort of fraud. I sure the amatuer lawyers on this thread could outline Verizon's possible legal arguements better than I.

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