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Technology Stocks : METRICOM - Wireless Data Communications -- Ignore unavailable to you. Want to Upgrade?

To: spesk who wrote (1051)	5/28/1999 11:57:00 PM
From: Estephen	Respond to of 3376

TODAY'S wsj..... Microsoft Completes Investment In Nextel, Buying 4.25% Stake Dow Jones Newswires Microsoft Corp. has finalized its $600 million investment in Nextel Communications Inc. Nextel plans to use the cash to accelerate development of its wireless Internet service, which now uses the software giant's MSN portal. The companies said Friday in that Microsoft has acquired 16.67 million Nextel common shares at $36 each. The purchase represents a 4.25% stake in Nextel on a fully diluted basis. Shares of Nextel, which are listed on the Nasdaq Stock Market, fell 11/32 to 34 5/8 on Thursday. Nextel said it expects to use proceeds from the investment, for which Microsoft announced plans in early May, to advance the deployment of its Nextel Online wireless Internet service. It also plans to develop more digital services, expand its Nextel National Network and fund system development and expansion in other countries. Microsoft said May 10 the investment was part of a plan to deliver a wireless portal to work with handheld devices, cellular phones and interactive pagers via the MSN network of Internet services. Nextel expects Nextel Online customers to be able to use their phones to access the new MSN services later this year.