Subject: [NEXTEL-1] NEXT MOBILE TAKES MAJORITY STAKE IN NEXTEL PHILIPPINES

From: Marcel <[email-masked]>
Date: Thu, 20 Feb 2003 03:12:59 -0500

Something is VERY Fishy here.

Ok,  Nextel International last reported they sold their interest for Nextel Int in the
Philippines for $500M , then the invested $500M back into the company.

Now Next Mobile reports they have acquired majority stake in Nextel Communications
Philippines, Inc. with a
US$200 million capital infusion.

So for $500M nextel has a minority stake in the business?

And-

"Mel Velarde, Next Mobile chairman said there
is a market for such services locally and the
new company will be focusing on niche
markets."

"The Velarde group, the company behind Next
Mobile, has partnered with Maxwealth
Consultant Ltd., for the deal."

"Velarde, who is also the CEO of Nextel"

So Mel Velarde has 3 Jobs:

1) Owner of The Velarde Group

2) Next Mobile chairman

3) CEO of Nextel

Amazing!

---------------------------------------------------------------------------------------------

NEXT MOBILE TAKES MAJORITY STAKE IN NEXTEL PHILIPPINES

February 19, 2003 11:04am

MANILA, Feb 18 Asia Pulse - Next Mobile, a consortium composed of Finnish, Swedish,
American and
Filipino entrepreneurs, has acquired majority stake in Nextel Communications Philippines,
Inc. with a
US$200 million capital infusion.

The trunk radio will be transformed into a
company which will offer wireless broadband
mobile services.

Mel Velarde, Next Mobile chairman said there
is a market for such services locally and the
new company will be focusing on niche
markets.

The Velarde group, the company behind Next
Mobile, has partnered with Maxwealth
Consultant Ltd., for the deal.

"We see a huge potential for wireless
broadband in the Philippines. The cellular
phone indeed is a precursor to what the digital
revolution intends to achieve - individual and
team productivity in motion," Velarde said.

He added, "The key is to bet on a platform on which solution-based services can be
delivered to a very
focused market segment."

Velarde, who is also the CEO of Nextel, said they will initially market mobile internet
for Ipaq, Palm Pilot
and wireless phones, which provide unlimited Internet access anytime for a fixed monthly
rate.

"This will allow users full connectivity to the internet and to have own corporate
enterprise information
system, allowing mobile and remote users to fully internet with their network and utilize
all the applications
as if they are connected by wire to their office local area network (LAN)," he said.

Velarde said Next Mobile tied up with Nextel Philippines because the platform the latter
is using, the
Integrated Digital Enhanced Network (iDEN) is the right technology to use for data
services.

He expects the new company to do well in data services other than voice services and text
messaging as
they position it differently from major mobile phone operators Smart Communications, Inc.
and Globe
Telecoms.

He said the iDEN technology is the ideal network platform, citing this can carry double
the number of voice
calls than global systems for mobile communications does on any 200-kiloherts spectrum.

He said iDEN, which was first introduced by Motorola in 1994, is even superior to the
general packet radio
service (GPRS) platform.

iDEN technology is fully digital and has quadruple functionality - two-way radio, phone,
text messaging and
wireless internet protocol-based packet data services.

Velarde said Nextel has loyal customers who provide a $30 average revenue per year.

"We don't see Smart and Globe as our competitors. In fact, we benefit from their brave
moves to
revolutionaize mass communications through the cellular phone and texting. Because of them
and of
people's unlimited aspirations, there are enormous opportunities for niche players like
ourselves," Velarde
said.

He noted one has to be a niche player to survive.

"All we need to do is keep our focus on the right customer, give and compelling value
proposition and deliver
superb services to them, then our company will be valued not far from that of Smart of
Globe," added.

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