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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: transmission who wrote (11653)	11/21/1999 7:39:00 PM
From: DubM	Read Replies (1) \| Respond to of 12468

Does anyone know why NXLK is suddenly showing a market cap of 7.719 Billion? Perhaps the figure is wrong but both Yahoo and AOL showing the same. News of interest: WinStar, HongKong Land Seek Outside Co-operation for Network Hong Kong, Nov. 18 (Bloomberg) -- WinStar Communications Inc., which uses wireless links to provide phone and high-speed data services in U.S., said it wants help from property developers to set up a wireless data network in Hong Kong Winstar said it teamed up with HongKong Land Holdings Ltd. to bid for a government license to operate such a service, which would entail building wireless base stations atop buildings for high-speed data transmission. Winstar needs rooftop access to install base stations and to build network coverage to ensure approval of its application. Winstar and Hongkong Land are among 14 bidders for the license. The winners will be able to offer customers the ability to transmit data much faster than traditional telephone lines and without needing to lay more underground cables. Winstar Managing Director Gary Jaeckel said the company picked HongKong Land as a partner because of its extensive properties portfolio, its knowledge of the local market, and its capital. He declined to disclose financial details of the partnership. ``It would be in our best interest to take advantage of their properties first and then we would grow beyond that,' he said. ``That's why it's important for us to talk to other developers.' The government hasn't said how many licenses will be awarded, though all 14 won't be successful because of the limited availability of the radio frequency spectrum. They will probably be awarded by the end of the year. Winstar said it could sign up its first customers within 180 days of obtaining a license. It would then take another three to six months to order and install equipment. Jaeckel said Winstar would probably start by installing equipment at HongKong Land properties in the city's central business district and later expand elsewhere. Other operators would also have access to Hongkong Land rooftops, he said. In the U.S., WinStar has access to about 5,000 building rooftops. The company has made use of only about half of those. Nov/18/1999 5:57 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P.