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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: Caxton Rhodes who wrote (25573)	3/30/1999 1:39:00 PM
From: Ruffian	Read Replies (1) of 152472

Does anyone know if this affects the Q?> Mexico's Unefon, Miditel Near Deadline for Frequency Payments Mexico City, March 30 (Bloomberg) -- Mexican telephone companies Unefon SA and Miditel SA are due to pay more than $300 million by tomorrow to pay for new wireless telephone frequencies they agreed to buy from the government. Unefon owes the government 2.1 billion pesos ($220.4 million), and Miditel owes 816 million pesos. Payment was originally due at the end of September but the government granted the companies a six-month grace period. Unefon, owned by Ricardo Salinas Pliego, owner and chairman of retailer Grupo Elektra SA and broadcaster Television Azteca SA, called a news conference today at 4 p.m. (5 p.m. New York time). Officials at Miditel, 49-percent owned by South Korea's state-owned Korea Telecom Co., couldn't be reached for comment. Both companies failed to meet the original payment date as tumbling financial markets last year hampered efforts to raise capital. Unefon postponed a $350-million bond sale in August. The company said in October it was seeking capital from an international telephone operator and individual investors. Unefon and Miditel were among the most ambitious bidders in the government auction of frequencies, bidding the highest- and third-highest amounts of seven companies including Telefonos de Mexico SA and Grupo Iusacell SA. The companies have yet to inform the government if or how they will pay, said the Federal Telecommunications Commission, a state-run agency.

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