Subject: [NEXTEL-1] Verizon Wireless Eyes Bid for NextWave Airwaves

From: [email-masked]
Date: Tue, 19 Aug 2003 03:24:19 -0400

Verizon Wireless Eyes Bid for NextWave Airwaves
Mon Aug 18, 5:10 PM ET

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ASPEN, Colo. (Reuters) - Verizon Wireless (news - web sites)' Chief Executive
Officer Denny Strigl said on Monday that his
company is looking at the possibility of bidding for airwaves that NextWave
Telecom Inc. plans to sell to Cingular Wireless.

"We look at every opportunity that's out there," he told Reuters on the sidelines
of the annual
Progress & Freedom Foundation Aspen Summit. "NextWave is no different than any
other opportunity
that comes down the pike."

Verizon Wireless is the No. 1 U.S. mobile telephone carrier and a joint venture
between Verizon
Communications (NYSE:VZ - news) and Vodafone Group Plc (VOD.L).

Cingular Wireless LLC, the No. 2 carrier, earlier this month agreed to buy
wireless licenses in 34
markets from bankrupt NextWave Telecom Inc. for $1.4 billion in cash.

NextWave (Other OTC:NXLCQ - news), which has been in bankruptcy protection since
1998, and
Cingular, a joint venture between BellSouth Corp. (NYSE:BLS - news) and SBC
Communications Inc.
(NYSE:SBC - news), have been in talks on a deal for months.

However, Cingular could be trumped by higher and better offers from other
carriers. If other bidders are
interested, an auction for the valuable airwaves would be held Sept. 23.

Strigl also reiterated support for letting customers switch carriers without
giving up their telephone
numbers, bucking other carriers who have complained that federal regulators must
address several
issues before they can implement the option.

The Federal Communications Commission (news - web sites)'s imposed deadline of Nov
24 for
number portability could be a double-edged sword for his company, which can lure
in new customers
by touting its breadth.

"You can look at this another way, though, and that is with 34 million customers
and 12 million more
customers than the next carrier, we also have the most to lose," he said.

Verizon Wireless has complained to the FCC (news - web sites) that other companies
may try to make it difficult for consumers to switch carriers by charging fees or
requiring them to pay any money due on their accounts.

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030818/tc_nm/telecoms_verizonwireless_dc_1

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