CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST! Message Board

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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!

QCOM 177.78

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Jan 9 9:30 AM EST

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To: Maurice Winn who wrote (1021)	10/15/1996 12:22:00 PM
From: Jim Lurgio	of 1819

Maurice , Here is a tidbit on Nextwave Nextwave Rows Upstream to Get Financing for Its Wireless License Bonanza" American Banker (10/11/96) P. 17; Dunaief, Daniel Nextwave Telecomm--which offered $4.2 billion for over 56 PCS licenses--has decided to replace Merrill Lynch as head of a $150 million initial public offering and $400 million in high-yield bonds. Smith Barney will now head the public offering, while Canadian Imperial Bank of Commerce will be responsible for the bonds. Other wireless companies have had financing difficulties; Sprint Spectrum switched from Citicorp, J.P. Morgan, and Toronto Dominion Bank to Chase Manhattan for its $2 billion loan. But Chase, with a late start, had problems finding investors, and market analysts think there could be a similar situation with Nextwave. Steven Maloney, the president of a Boston consulting firm, says that Nextwave and other PCS companies "are attempting to reconcile what was a very aggressive business plan in terms of penetration and prices against reality."

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