Subject: [NEXTEL-1] No Word From FCC On $5 Billion Bid

From: [email-masked]
Date: Sat, 10 Apr 2004 04:42:57 -0400

No Word From FCC On $5 Billion Bid
BY MARK ROCKWELL
APRIL 9, 2004

WASHINGTON -- The FCC has yet to formally respond to Verizon Wireless'
$5 billion bid pledge for 1.9 GHz spectrum, say company officials, but
they add that doesn't mean the commission isn't considering it.

Speculation was buzzing yesterday that commissioners were close to
agreeing to Nextel's plan and would put the 800 MHz item on its April 15
agenda. However, the FCC did not include the 800 MHz plan on its
"sunshine agenda" for its meeting next week. The agenda, released late
yesterday afternoon, lists the items the commissioners will vote on at
that meeting. Although items can be added as supplements up until the
last minute, the 800 MHz plan's absence from the initial agenda can be
seen as a sign that negotiations on the issue are ongoing among
commissioners.

"We're not convinced that a formal decision about Nextel's interference
has been made" yet at the commission, says Verizon Wireless spokesman
Jeffrey Nelson.  "Given a minimum bid of $5 billion on the spectrum,
we're hoping the FCC would take a look."

FCC officials couldn't be reached for comment on the $5 billion bid.
Nextel officials declined comment on the Verizon Wireless letter issued
yesterday and on the 800 MHz proceeding at the FCC.

The $5 billion offer has some analysts asking how the company would
raise that amount of cash. Company officials indicated local exchange
company parent Verizon Communications has given the nod to find ways to
back the bid, which might include spinning the wireless subsidiary off
in a public offering, a direct infusion from the parent company, or a
bond offer.

http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=1&pubdate=04/09/04

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