Subject: [NEXTEL-1] Qwest Peddles Spectrum, Verizon Bites

From: NEXTEL-1
Date: Fri, 02 Jul 2004 15:00:17 -0400

Qwest Peddles Spectrum, Verizon Bites
BY SUSAN RUSH
JULY 2, 2004

In a move designed to beef up its capacity in new and existing markets,
Verizon Wireless has agreed to purchase wireless spectrum and mobile
gear assets from Qwest Wireless. The $418 million deal will in turn
improve Qwest's liquidity.
Under the terms of the agreement, which is subject to regulatory
approval, Verizon Wireless will acquire Qwest's 1900 MHz PCS licenses in
62 markets spanning 14 states. The licenses average out to roughly 10
MHz per market, according to Verizon Wireless. Included in the deal is
Qwest's network switching centers, cell sites and related network
equipment.

Verizon currently operates its network in all but nine of the Qwest
markets covered by the sale. Some of the new markets include Rochester
and St. Cloud, Minn.;
Lincoln, Neb.; and Longview, Wash.

"This [purchase] will increase our capacity in key markets to meet
growing demand," Verizon Wireless spokeswoman Nancy Stark tells news@2.
"It increases our capacity to handle more customers and calling volume
in voice and data."
Qwest signed a wholesale agreement with Sprint last year and has since
been transitioning its wireless subscribers to Sprint's PCS network.
Qwest is retaining its existing wireless subscriber base and will
continue to actively seek new customers, offering wireless services
under the Qwest brand.

"The monetization of the network assets further improves our liquidity,"
Qwest CFO Oren Shaffer said in a statement.
The companies expect the transaction to close by year's end or early
2005.
http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=1&pubdate=07/02/04

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