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Technology Stocks : NEXTEL
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To: Anthony Wong who wrote (8916)3/25/1999 10:47:00 PM
From: SteveG   of 10227
 
from BTAB's Jeff Hines and Bo Fifer: PCS Reauction Update: Day 2

HIGHLIGHTS:
-- The re-auction of PCS frequencies continues after day 2 (24-Mar).
After 4 rounds of bidding, the auctions have yielded net bids of $144
million. Early results, while not terribly significant, are
nonetheless interesting (please see our note dated 22-Mar for
identification of the top 10 qualifying participants).

-- TOP FIVE BIDDERS BY NET BID
(we note that an entity's bid amount can fluctuate from round to round-as
opposed to necessarily rising each round-if it loses a high bid position)
Bidder Markets Bid ($Mil)
ConnectBid 4 57.9
Cook Inlet/VoiceStream PCS 22 12.3
OPCS Three 10 11.6
BCN Communications 3 10.8
Leap Wireless 8 9.1
Source: Federal Communications Commission.

-- TOP FIVE MARKETS BY NET BID
Market Bidder Bid ($Mil)
Chicago (30MHz) ConnectBid 29.9
Dallas (30MHz) ConnectBid 18.9
Philadelphia (15 MHz) BCN Communications 10.4
Phoenix (30 MHz) Cook Inlet/VoiceStream PCS 8.0
St. Louis (30 MHz) OPCS Three 7.7
Source: Federal Communications Commission.

-- NET-NET: No surprise that Chicago and Dallas, as the auction's "crown
jewels" are attracting the most bidding attention. Bidding seems to
be dominated by just three companies in these two markets so far,
however: Beta Communications, ConnectBid, and OPCS Three. Cook
Inlet/Western Wireless (22 high bids) and ABC Wireless (35 high bids)
are amassing the largest footprints so far (based on geography, not
POPs)... Stay tuned.
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