Subject: [NEXTEL-1] Verizon to buy Qwests wireless assets

From: NEXTEL-1
Date: Fri, 02 Jul 2004 15:05:35 -0400

Verizon to buy Qwest’s wireless assets
By Dan Meyer
July 01 16:53:00, 2004

In a move that could relieve its spectrum needs ahead of upcoming
auctions by NextWave Telecom Inc. and the Federal
Communications Commission, Verizon Wireless reported a definitive
agreement to purchase Qwest Communications International Inc.’s wireless
assets for $418 million. The purchase price is well below the $1
billion-plus analysts predicted the company could have received for its
wireless network, which includes spectrum in 62 markets and is now empty
following Qwest’s recent transition of its customer base to Sprint PCS’
wireless network.

The agreement, which Verizon Wireless said is expected to close later
this year or early next year, includes Qwest’s PCS spectrum spread
throughout 14 western states and covering 30.8 million potential pops,
as well as the carrier’s CDMA-based network switching centers, cell
sites and related network equipment.

Verizon Wireless noted 53 of the licenses included in the deal are in
markets where it already offers service and will be used to
expand capacity to meet increased voice and data traffic. New markets
for Verizon Wireless included in the deal cover 1.5 million pops in nine
markets, including Rochester and St. Cloud, Minn.; Lincoln, Neb.; and
Longview, Wash.

http://rcrnews.com/cgi-bin/news.pl?newsId=722

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