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To: quidditch who wrote (3731)	12/22/1999 3:46:00 PM
From: DOUG H	Read Replies (2) \| Respond to of 15615

Thanks steve, It is an interesting legal question, though my experience tells me that when an attorney tells me a problem is "interesting" I feel a twitch in my wallet. <gg>

To: quidditch who wrote (3731)	12/22/1999 7:16:00 PM
From: Teddy	Respond to of 15615

looks like NextWave doesn't like Nextel (i'm not getting involved, too complicated) Wednesday December 22, 6:40 pm Eastern Time NextWave files motion to block Nextel bid (Recasts lede, Updates throughout with NextWave comments) NEW YORK, Dec 22 (Reuters) - NextWave Telecom Inc. said on Wednesday it filed a motion to stop Nextel Communications Inc.'s (NasdaqNM:NXTL - news) $8.31 billion bid to acquire the bankrupt company and buy its wireless licenses. NextWave spokesman Michael Wick told Reuters the company filed its motion, which he said claims Nextel is interfering with ongoing bankruptcy proceedings, in court in White Plains, N.Y. But investors cheered Nextel's bid, a move seen as a key to the company's growth, pushing its stock up 2-1/4 to 96-9/16 in Wednesday trading on the Nasdaq stock market. ``Investors are inferring that Nextel has a better shot at getting the NextWave licenses,' Prudential Securities wireless analyst Chris Larsen said. ``This would give them the opportunity to expand on their business plan.' In a U.S. Securities and Exchange Commission filing, Nextel offered to pay $5.31 billion to the Federal Communications Commission for the licenses, a spokesman for the company said. Nextel would use the licenses, which NextWave won at auction but has been unable to pay for, to enhance the capacity of its network. Reston,-Va., based Nextel said it also offered to pay NextWave $2.5 billion in stock to acquire the bankrupt company. Nextel would also pay off $500 million of NextWave's debt, the spokesman said. Wick said the $5.31 billion Nextel is offering for the licenses is the same amount NextWave has offered to pay the FCC. NextWave said recently it may get more than $1.6 billion from several high-profile investors. The funds would help NextWave build its advanced wireless network and pay off its debt on the wireless licenses that Nextel is hoping to buy. SoundView Technology Group wireless services analyst Tim O'Neill said Nextel's strategy to bid for wireless licenses was good because the company could pick any technology to fill the space. ``It's not encumbered by other technology,' O'Neill said in a telephone interview. ``It's a spectrum grab as opposed to an infrastructure grab.' O'Neill added that he expected Nextel to report a strong fourth quarter, saying that the company may have already hit its forecast subscriber growth of between 410,000 and 450,000. If NextWave is allowed to keep the licenses, it would have access to about 95 major markets across the United States. NextWave would not immediately be a competitive threat to other carriers since it would take a few years to build its network, industry sources said.