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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: METMAN who wrote (142)	11/23/1998 9:23:00 AM
From: Jeff Vayda	Read Replies (2) \| Respond to of 2737

Leap Looks For New Identity As Technical Partner LOS ANGELES -- Having essentially been sent out into the world to make its fortune, Qualcomm Inc. [QCOM] spin-off Leap Wireless International Inc. [LWIN] is moving quickly to define itself as something other than a collection of joint ventures Qualcomm assembled to create a market opportunity for CDMA before the technology took off. Leap holds Qualcomm's former interest in a number of ventures around the world. The first of these to go into operation was Chilean 1900 MHz operator Chilesat Telefonia Personal S.A. Leap also has stakes in Mexican consortium Pegaso Telecomunicaciones S.A. de C.V.; Australia's OzPhone Pty. Ltd.; U.S. C-block licensee Chase Telecommunications Inc.; and two Russian ventures, Metrosyvaz Ltd. and Orrengrove Investments Ltd. Leap also has applied to the FCC for designated entity status so it can buy four F-block licenses from AirGate Wireless LLC, and has mentioned an anticipated Ukrainian joint venture. With such a diverse set of holdings, one might wonder what kind of personality Leap will develop. The one suggestion Leap staffers bristle at is that they remain a province of Qualcomm's empire. "I'm more astonished by the speed with which we've disassociated ourselves from Qualcomm," said Chief Technical Officer Mark Kelley. Leap plans to use its present properties as a blueprint for future expansion, according to Senior Director of Strategic Marketing Steven Caliguri. Leap will look for other nations interested in either privatizing government-owned carriers or creating new competitors. Leap then will bring management and technical expertise, as well as capital, to partnerships with local entities that can provide the specific market expertise Leap lacks. In the United States, Leap is being more circumspect about its plans. They involve wireless local loop, but Leap is only giving out occasional hints as to what flavor of wireless local loop it expects to offer. For example, Investor Relations Director Rochelle Bold dropped the term "limited mobility," but then would not clarify what she meant. Whatever Leap has in mind, it is actively buying spectrum. At least one other request for transfer of a license to Leap was filed with the FCC, although Leap said that application is now in the process of being withdrawn. In addition, should its designated entity status be approved, Leap could participate in the upcoming C-block reauction. However, even if Leap does not bid, there is a great deal of spectrum potentially on the market. With many smaller licensees now choosing to affiliate with major A/B-block carriers, Leap is working with a buyer's market.