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To: Clarksterh who wrote (20)	10/1/1998 7:17:00 AM
From: w2j2	Read Replies (1) \| Respond to of 426

MEXICO CITY, Sept 30 (Reuters) - Mexico's Federal Telecommunications Commission (Cofetel) said on Wednesday it extended by 180 days a deadline for payments due on local wireless concessions granted earlier this year to eight firms. Current market turmoil prompted the extension, Cofetel said. Cofetel "recognized that the financial crisis in world markets has produced a flight of capital from emerging markets and as a result a delay in credits for financing all types of projects," it said in a statement. Unefon, owned by the president of retailer Grupo Electra (MEX:ELEKTRACPO), Ricardo Salinas, asked for an extension on the 80 percent it still owed on the wireless frequencies granted in May, Cofetel said. The commission said Midicel, a unit of privately held Miditel, had also indicated it would take advantage of the payment extension. Companies granted concessions paid 20 percent of their bids on July 30. The remaining 80 percent was due on Wednesday. Earlier on Wednesday Grupo Iusacell (MEX:IUSACELL) said it paid off the outstanding amount it owed the government, a 453.67 million-peso payment, or about $45 million. A source at Pegaso Telecomunicaciones, in which Qualcomm Inc. (NASDAQ:QCOM) and Grupo Televisa (MEX:TLVISACPO) (NYSE:TV) participate, said it had also made the final payment but did not give the amount. Others granted concessions were Telcel, Grupo Hermes, Telefonos de Mexico (NYSE:TMX) (MEX:TELMEXL), and Telinor. Fixed or mobile wireless communications can be used as a less expensive way to provide local telephone service, in which Telmex has enjoyed a monopoly up to now. In May, Cofetel said the total amount bid by the companies was 8.452 billion pesos, about $1 billion at exchange rates at that time. (US$ = 10.08 pesos) mexicocity.newsroom@reuters.com))