Subject: [NEXTEL-1] Verizon eyes $5 bln phone spectrum bid

From: [email-masked]
Date: Thu, 08 Apr 2004 19:01:59 -0400

Verizon eyes $5 bln phone spectrum bid
By Rex Crum, CBS.MarketWatch.com
Last Update: 5:18 PM ET April 8, 2004

SAN FRANCISCO (CBS.MW) -- In an attempt to gain new wireless access and
end a dispute with Nextel Communications, Verizon Wireless told the
Federal Communications Commission Friday it is willing to open bidding
at $5 billion for a section of wireless spectrum.

Verizon said in a letter to the FCC that it is prepared to make the $5
billion bid for a 10-megahertz-sized piece of spectrum located in the
1.9-gigahertz signal band should the FCC put the spectrum up for
auction.

"This is prime, beach-front real estate," said Jeffrey Nelson, a Verizon
spokesman, of the 1.9-gigahertz band.  Nelson said the spectrum area can
be used for third-generation wireless technologies that can't be run in
other spectrum areas.

Nextel (NXTL: news, chart, profile) is currently claiming the space in
exchange for fixing radio-signal interference problems in another area
of wireless spectrum. Nextel has said it wants the spectrum in exchange
for fixing signal interference problems caused by Nextel radio
transmissions in the 800-megahertz band. Nextel's radio transmitters
share the 800-megahertz spectrum space with public-safety radio
operators such as police and fire departments.

Nextel wants the FCC to tie together its sections of the 800-megahertz
band into one coherent spectrum space, as well as give the company the
1.9-gigahertz section, in exchange for clearing up its signal
interference issues.

Verizon Wireless, which is owned by Verizon Communications (VZ: news,
chart, profile) and Britain's Vodafone (VOD: news, chart, profile),
argues that Nextel is holding the FCC, public-safety officials and
wireless operators hostage by demanding spectrum concessions in exchange
for fixing problems of its own making.

Verizon Communications shares broke even Thursday to close at $37.31,
while Nextel rose 9 cents to close at $25.47.

http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B003C6988%2D1C27%2D4665%2DACAC%2DA8645D6FB5D5%7D

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