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News
Issue #2003 - 23 (August 2003)
(Updated Aug. 19, 2003)

INFRASTRUCTURE, PRODUCTS & SERVICES

Verizon Wireless May Bid on NextWave Spectrum Sought by Cingular
Source: Reuters

ASPEN, Colo., Aug. 18 (Reuters) - Verizon Wireless' Chief Executive Officer Denny Strigl said on Monday that his company is looking at the possibility of bidding for airwaves that NextWave Telecom Inc. plans to sell to Cingular Wireless.
"We look at every opportunity that's out there," he told Reuters on the sidelines of the annual Progress & Freedom Foundation Aspen Summit. "NextWave is no different than any other opportunity that comes down the pike."

Verizon Wireless is the No. 1 U.S. mobile telephone carrier and a joint venture between Verizon Communications VZ.N and Vodafone Group Plc VOD.L .

Cingular Wireless LLC, the No. 2 carrier, earlier this month agreed to buy wireless licenses in 34 markets from bankrupt NextWave Telecom Inc. for $1.4 billion in cash.

NextWave NXLCQ.PK , which has been in bankruptcy protection since 1998, and Cingular, a joint venture between BellSouth Corp. BLS.N and SBC Communications Inc. SBC.N , have been in talks on a deal for months.

However, Cingular could be trumped by higher and better offers from other carriers. If other bidders are interested, an auction for the valuable airwaves would be held Sept. 23.

Strigl also reiterated support for letting customers switch carriers without giving up their telephone numbers, bucking other carriers who have complained that federal regulators must address several issues before they can implement the option.

The Federal Communications Commission's imposed deadline of Nov 24 for number portability could be a double-edged sword for his company, which can lure in new customers by touting its breadth.

"You can look at this another way, though, and that is with 34 million customers and 12 million more customers than the next carrier, we also have the most to lose," he said.

Verizon Wireless has complained to the FCC that other companies may try to make it difficult for consumers to switch carriers by charging fees or requiring them to pay any money due on their accounts.


Source: Reuters
For more information: http://www.reuters.com

MobileInfo Comments and Advisory: Cingular may have to fight this out. 

Note: This news release may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of Securities Exchange act of 1934 in USA. Similar provisions exist in other countries. There is no assurance that the stipulated plans of vendors will be implemented. MobileInfo does not warrant the authenticity of the information. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.


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