Nextel Communications Inc. privately sold $1 billion of 10-year convertible senior notes in a “drive-by” sale to capitalize on favorable market conditions. The carrier plans to use the proceeds for network expansion, additional spectrum, strategic investments, working capital, debt service and other corporate purposes. The notes, which carry a 6-percent coupon, are convertible into common stock at $23.84 per share.
Telecommunications provider CenturyTel Inc.’s board of directors voted to declare a quarterly dividend of 5 cents per share, payable on June 15 to shareholders of record on June 1.
Premium Wireless Services Inc., a wireless messaging platform provider, announced it has developed a consumer base of more than 10 million users in 85 countries and delivered more than 58 million individual sends of mobile phone ringtones and logos over its YourMobile Networks since April 2000. PWS, which has international customers including Cingular Wireless in the United States, BT Cellnet and News Corp. in the United Kingdom, Austereo in Australia, FIDO/Microcell Canada, eXactmobile in Southern Africa, and Info2Cell.com in the Middle East, said it has plans to expand its platform to service wireless handset models, media formats and network types soon.
Microsoft Corp. announced its personal digital assistant operating system, Pocket PC, sold more than 1 million units in less than a year, evidence that Pocket PC is gaining on industry leader Palm Inc. “Reaching the 1 million mark in record-breaking time is a major milestone for us, but it’s only the beginning as we see each month’s sales continue to top the record set the previous month,” said Ben Waldman, vice president of the mobile device division at Microsoft.
Nokia Corp. has signed a $100 million GSM contract with Beijing Mobile Communications Co. to expand its GSM 900 MHz and 1800 MHz network. Under the deal, Nokia will provide mobile switching equipment, base stations and base station controllers. MCC also may buy the UltraSite base station solution for GSM, GPRS, EDGE and W-CDMA.
