Teligent Inc.'s board of directors authorized a two-for-one stock split subject to shareholder approval of an amendment to the company's certificate of incorporation authorizing an increase in the number of shares of Teligent common stock. The proposed amendment will be presented to shareholders at...
An unspecified number of U S West shareholders filed a lawsuit against Qwest Communications International Inc. March 17, alleging Qwest deflated U S West stock prices through its recent merger negotiations with Deutsche Telekom AG, which are now defunct.The suit, filed in U.S. District...
NEW YORK-To simulate third-generation wireless before its deployment, Finland's Sonera has just embarked on a new program, Sonera Mspace, said Kaj-Erik Relander, the company's executive vice president.In partnership with content, service and technology providers, Mspace will conduct in Finland "real life trials with consumers...
NEW YORK-The March 16 announcement that Qwest International Inc. will sell some of its properties to The Montana Power Co. complies with a major condition for final Federal Communications Commission approval of the Qwest-U S West Inc. merger.Touch America, the telecommunications subsidiary of Montana...
NEW YORK-GTE Corp. is hopeful the Federal Communications Commission will approve its merger with Bell Atlantic Corp. before the 700 MHz spectrum auctions in May so the combined company can focus undivided attention on the bidding."The 700 MHz auction is something being very intensively...
After spending 10 years and $5.8 billion building and launching a constellation of 66 low-earth-orbit satellites to provide mobile voice and paging services worldwide, Iridium L.L.C. is facing a new countdown-toward extinction.If the company doesn't find someone to replace Craig McCaw as its financial...
Broadband. It is a familiar term being tossed around the wireless industry like a hot potato, but its relatively new status is making its definition, applications and implications elusive to many.At the most basic level, wireless broadband-also known as fixed wireless, Broadband Wireless Local...
NEW YORK-Though not for those impatient or faint of heart, satellite-sector investing has reaped handsome rewards overall in recent years and promises better days ahead."Last year's stumblers have addressed their issues and are coming on strong," Thomas W. Watts, first vice president of Merrill...
NEW YORK-Aided by a federal regulatory regime that has leveled the playing field for newcomers, broadband telecommunications competitors are coming on strong in their efforts to wrest business customers from incumbents."There are significant opportunities, a $100 billion business marketplace that broadband is targeting with...
ALEXANDRIA, Minn.-The Securities and Exchange Commission declared effective Rural Cellular Corp.'s registration statement for a follow-on offering of 2.39 million shares of the company's class A common stock to be offered to the public at $61.88 per share.The underwriters of the issuance include Donaldson,...
Qualcomm Inc. shares dropped 16 percent last Wednesday after the cdmaOne innovator warned of slower chip sales this quarter.This warning eclipsed Qualcomm's higher-than-expected first fiscal quarter earnings. Merrill Lynch cut its near-term rating to "neutral" from "accumulate." Salomon Smith Barney lowered its rating from...
WASHINGTON-With the legal and regulatory actions behind them, creditors for bankrupt Geotek Communications Inc. now must decide what to do with a bundle of major-market specialized mobile radio licenses it planned to sell to Nextel Communications Inc. before a federal judge here ruled otherwise...
Expectations among industry financial analysts that Motorola Inc.'s fourth quarter earnings will exceed consensus estimates of 81 cents per share caused the company's stock to skyrocket Friday to $150 a share.Motorola is expected to release fourth quarter earnings today.Lehman Brothers analyst Tim Luke raised...
WASHINGTON-With a culture that has resulted in 65 mergers since 1985 with increasingly larger companies, Bernie Ebbers, the chief executive officer of MCI WorldCom Inc., does not believe he will have to divest his Internet backbone to acquire Sprint Corp.'s wireless properties."The wireless thing...
NEW YORK-i3 Mobile Inc., which distributes customized information to wireless devices, and NeoPoint Inc., which does double duty as a handset maker and Internet portal, both plan their debuts as public companies.i3 Mobile, formerly known as Intelligent Information Inc., has distribution agreements with 15...
It seems the dark cloud that settled over the mobile satellite services industry when Iridium L.L.C. and ICO Global Communications went bankrupt last August has begun to lift, reflected by a stock rally from Globalstar L.P. indicating renewed investor confidence.Globalstar USA, Globalstar L.P.'s exclusive...
AT&T Wireless Services Inc.'s largest affiliate, TeleCorp PCS Inc., raised $184 million last Tuesday from its initial public offering.TeleCorp priced its IPO offering of 9.2 million shares of class A common stock at $20 per share, which includes about 1.6 million shares offered to...
Speculation that BellSouth Wireless Data Ltd. would not immediately renew its supply contract with Research In Motion Ltd. has proven accurate, expected to result in lower third-quarter earnings for RIM. But the drop is expected to be short-term as more customers sign on to...
Intense pricing competition in the Code Division Multiple Access handset market may put the squeeze on Qualcomm Inc.'s fiscal fourth-quarter results, some analysts said last week.Qualcomm's stock fell $23.50 to $168.69 Wednesday amid concerns over margins in its mobile-phone business. Shares rebounded somewhat Thursday...
WASHINGTON-Geotek Communications Inc. creditors blasted the proposed antitrust settlement between the Justice Department and Nextel Comm-unications Inc., while government lawyers continued to fight to limit the creditors' participation in the matter.Unlike small- and medium-sized dispatch radio operators, which claim the DOJ-Nextel deal does not...
NEW YORK-All bidders for the United Kingdom's One-2-One have reportedly dropped out, so Cable & Wireless plc and MediaOne Group, which own the personal communications services carrier, will have to go back to the drawing board."We remain interested in the UK market, which is...
WASHINGTON-Just days before going to trial last month, high-level Justice Department officials may have overruled government antitrust lawyers who appeared ready to make a strong case in federal court against lifting a 1995 consent decree imposed on Nextel Communications Inc.Charles James, a lawyer for...
NEW YORK-"The best news I will present today is that, for the first time in more than a year, there is significant interest by institutional investors" in private equity investments in satellite companies, said Hoyt Davidson, managing director of Donaldson, Lufkin & Jenrette Securities...
NEW YORK-It is true billions of people have never made a phone call, but that fact is worthless in determining actual demand for mobile satellite telephony services, according to Larry Alletto, senior managing director of Bear, Stearns & Co. Inc."Far more important are the...
