Alcatel Corp. said it has joined with Royal Philips Electronics to showcase EDGE technology in an interoperability test. The companies said the tests achieved an uninterrupted download of 30 Megabytes at 220 kilobits per second. Alcatel offered its radio access and core technology, while Philips provided its cellular multimedia baseband solutions, which consist of a baseband chip, radio-frequency transceiver, power amplifier, power management unit and software package.
Dobson Communications Corp. reported that its class A common stock has been approved for trading on the Nasdaq National Market, and the company expects the move from the Nasdaq SmallCap will be effective at the open of regular trading today. Dobson’s stock will continue to trade under the “DCEL” ticker symbol. “Moving to the Nasdaq National Market is another step in positioning the company to maximize shareholder value,” said Everett Dobson, chairman, chief executive officer and president of Dobson.
XO Communications Inc. said it has received $161 million in paid subscriptions for approximately 32.2 million shares of its new common stock in the first stage of a rights offering that closed last week. The shares were priced at $5 per share. The company will offer the 7.8 million shares remaining from the initially offered 40 million shares for the same price in a second stage, expected to begin in December. The rights offering is being made pursuant to the company’s Chapter 11 reorganization plan. XO plans to use the proceeds to pay down existing secured debt.
Alltel Corp. launched its Simple Freedom Professional Series national prepaid wireless service package designed for business customers that will be available at more than 350 Sam’s Club locations across the country. The service is priced at $90 and includes a Nokia 3585I handset, 100 minutes of airtime, a wireless hands-free kit, and home and car chargers.The plan costs 25 cents per minute for local calls and provides nationwide calling, free long distance, voicemail, text messaging, caller identification, call waiting and downloadable ring tones.
