Subject: [NEXTEL-1] Craig Sells/ Hedges NXTP shares to raise Money.. (Poor Craig, when will he learn?)

From: [email-masked]
Date: Wed, 29 Oct 2003 21:58:44 -0500

LATEST NEWS
10:21 AM PST Wednesday

McCaw's Eagle River lowers stake in Nextel Partners

Telecommunications pioneer Craig McCaw's Eagle River Investments LLC has sold or hedged against about 3 million shares of Nextel Partners Inc. Proceeds were not announced. The shares closed Tuesday at $11.90 apiece.

The moves, involving about 18 percent of Eagle River's Nextel Partners holdings, are designed to diversify the investment company, McCaw said in a statement. Eagle River's remaining stake of about 14 million shares represents about 5.6 percent of the 251.4 million shares outstanding.

In the hedging transactions, known as "forward prepaid collars," Eagle River accepted less than market value for an undisclosed number of shares in exchange for the right to participate in any future upside in the price of the shares, the company said.

Nextel Partners markets Nextel wireless services in midsize U.S. markets.

http://seattle.bizjournals.com/seattle/stories/2003/10/27/daily24.html?t=printable

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