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

To: scotts who wrote (382)	5/29/1999 11:28:00 AM
From: straight life	Read Replies (1) \| Respond to of 2737

"As we detailed in our January 15, 1999 note, NEXTLINK significantly enhanced its portfolio of assets in two separate transactions during the quarter. First, NEXTLINK is acquiring WNP Communications for $695 million. WNP was formed solely to acquire licenses in the recent LMDS auction of 28 gigahertz 2-way high-frequency fixed wireless spectrum. Secondly, NEXTLINK announced a plan to acquire NEXTEL's 50% interest in NEXTBAND. NEXTBAND was a joint venture between NEXTLINK and NEXTEL which bid in those same auctions and owns 13 A block LMDS and 29 B block LMDS licenses. NEXTLINK will pay $137 million in equity for NEXTEL's half of NEXTBAND." If wireless companies form other companies for the sole purpose of competing at auction for spectrum, how can the FCC attempt to penalize Leap for it's distant relationship w/Q!