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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (645)	8/30/1999 1:38:00 AM
From: SteveG	Read Replies (1) \| Respond to of 1860

Merrill on TGNT's German spectrum: Investment Highlights: · On August 25, Teligent announced that it had been awarded 26 GHz fixed wireless broadband spectrum covering 11M POPs in Germany by the German Telecommunications Regulatory Authority. The license award covers 36 suburban markets surrounding major metropolitan areas including Berlin, Dusseldorf, Frankfurt, Hamburg and Munich. · In each market, Teligent was awarded 56 MHz of spectrum or one of two available licenses totaling 112 MHz. Other players granted spectrum include VIAG and Star1. · Teligent is currently in discussions with several potential local partners for assistance in design, construction and financing of the German network deployment. We expect a partnership announcement to be announced within the next few months with network deployment to commence by 2H01. · Although we view the German license award and the addition of an Int'l broadband local network strategy as an important long term positive for the Teligent story, we make no change to our 10 year forecast model at this time pending additional details concerning the timing, scope and economics of this new German network. · We reiterate our intermediate term Accumulate and long term Buy opinions.