KIRKLAND, Wash.(AP)-Craig McCaw, his family and ex-wife plan to exercise options for 17 million shares in Nextel Communications Inc., investing about $315 million in the wireless company.
The McCaws originally agreed to invest up to $1.16 billion in Nextel in 1995. The options they plan to exercise are part of that purchase agreement.
Afterward, McCaw plans to reduce his holdings by about 7 percent of his Nextel shares through an independent trustee, selling 15,000 shares on each of the next 200 trading days, regardless of the price.
