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Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (9579)	3/1/2000 8:03:00 AM
From: Rono	Read Replies (1) \| Respond to of 10227

Nextel Seen Selling Shares in International Business (Update1) By Lisa Levenson Nextel Seen Selling Shares in International Business (Update1) (Adds closing share price in second paragraph.) Reston, Virginia, Feb. 29 (Bloomberg) -- Nextel Communications Inc., a provider of wireless-telephone services, is likely to announce that it will sell shares in its international business to the public within six months, an analyst said. Walter Piecyk of PaineWebber Inc. wrote in a research report that a share sale could add at least $10 to $20 per share to Nextel's value. Piecyk, who has a ``buy' rating on Nextel, expects the stock to rise to 190. Nextel shares, which have more than doubled in the past six months, rose 1 1/4 to 136 3/4 on the Nasdaq National Market. Neither the company nor Piecyk were available for comment. Nextel has said it expects revenue and customers in its international business to double this year. Nextel ended 1999 with 403,500 international customers and $104 million in international sales. The company expects 2000 revenue of about $5 billion. Nextel, based in Reston, Virginia, targets companies, which spend more on wireless services than individuals. It's the only company to combine walkie-talkie service with conventional calling in one phone, which appeals to financial institutions' trading desks and to construction crews. The company has enough capacity to carry out its business and data plans as well as a consumer strategy, Piecyk wrote. Nextel said yesterday it got a $1 billion loan from Chase Manhattan Corp. to help pay for acquisitions. The new loan adds to $11.55 billion in available funds the company has accumulated in recent months through a credit facility and the sale of shares and bonds, including convertible debt. quote.bloomberg.com