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Technology Stocks : Leap Wireless International (LWIN)
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To: ZChazz who wrote (184)1/15/1999 5:34:00 PM
From: Maurice Winn  Read Replies (1) of 2737
 
Leap seems to be primarily C-block oriented. The rest is a bit of a fizzer. Russia is dodgy at best. Chile problematic. Mexico okay and a logical extension of USA. Australian spectrum is not extensive.

NextWave defaulted on the $4.3bn bid and Leap might get the same spectrum for $500m. Okay, maybe $1bn. That is a VERY big saving. NextWave would have had two years of maybe being a bit early and a bit expensive.

Leap can put in the latest gear, based on NextWave properties which they could buy, and arrive in the market at just the right time with a couple of billion saved on spectrum.

Being sold way under book value, it looks like a bargain. But auction action will be important. So will marketing skills. Sprint and others are a long way ahead. Prices are dropping and efficient, high quality and cheap minutes with broad coverage are going to be vital.

Thanks for the meeting comments.

Maurice
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