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...
GENEVA-Five rivals made the shortlist in the bid for control of the United Kingdom's fourth-ranked mobile operator, One-2-One, which was put up for sale by owners Cable & Wireless and MediaOne in March following MediaOne's acquisition by AT&T in a deal worth US$62.5 billion.While...
WASHINGTON-Noting competition abounds in the wireless industry, FCC Commissioner Harold Furchtgott-Roth said the Federal Communications Commission should put itself out of business."It's competitive. There's no better words that a regulator can say. It means it's time to get out of business," Furchtgott-Roth said.Furchtgott-Roth went...
WASHINGTON-Geotek Communications Inc. is moving forward to win creditor and bankruptcy court approval of a final plan of liquidation and is planning for contingencies in the event Nextel Communications Inc. loses its bid to overturn a 1995 antitrust consent decree.The U.S. Court of Appeals...
NEW YORK-Carriers, resellers and handset makers involved in domestic prepaid wireless services have much in common with ancient mariners navigating the narrow Straits of Messina where the mythical monsters of Scylla and Charybdis threatened them on either shore."Carriers recognize there is something to this...
It was an unprecedented event. Qualcomm Inc., the biggest defender of CDMA technology, and L.M.
Ericsson, the largest naysayer of the technology, embraced last week, ending more than 10 years of open hostilities
between the two.
"It's wonderful to be together," said Dr. Irwin Jacobs, chairman and...
WASHINGTON-Nextel Communications Inc. lawyer Thomas Cullen, attempting to convince U.S. District Judge Thomas F. Hogan last Friday to accept the dispatch giant's request to vacate a 1995 antitrust consent decree, argued 900 MHz is not the best spectrum for specialized mobile radio entry but...
WASHINGTON-Geotek Communications Inc., in conflict over competing bids for its 900 MHz dispatch radio licenses, may be ready to end weeks of delay and speculation by announcing a buyer at a Delaware bankruptcy court hearing tomorrow.Recent delays, manifested in last-minute postponements of court hearings...
BOSTON-American Tower Corp. announced the closing of a public offering of 27 million shares of Class A common stock at $25. Of the total number of shares, 25.7 million were sold by the company and 1.3 million were sold by certain selling stockholders.The net...
WASHINGTON-The bankruptcy sale of Geotek Communications Inc.'s 900 MHz specialized mobile radio licenses continued to be embroiled in uncertainty last week as company officials and creditors struggled over whether to roll the dice with a higher-albeit uncertain-bulk bid rather than take the solid $54...
WASHINGTON-Iridium World Communications Ltd., which is listed on Nasdaq, announced Jan. 4 it plans an add-on public offering of 7.5 million shares of its Class A common stock.Iridium World is the public investment vehicle for Iridium L.L.C., which launched commercial satellite telephony and paging...
NEW CANAAN, Conn.-Centennial Cellular Corp. and Welsh, Carson, Anderson & Stowe VIII L.P. lowered the value of their July 2 merger agreement by $60 million in cash considerations to be received by shareholders.The amendment calls for the transaction share price to be reduced from...
REDMOND, Wash.-Metawave Communications Corp. filed paperwork with the Securities and Exchange Commission for a proposed initial public offering of 5 million shares of common stock, expected to sell in the range of $9.50 to $11.50, the company said.BT Alex. Brown, Merrill Lynch & Co....
Iridium L.L.C. said two more of its satellites failed last week, adding to a list of concerns that caused the company's stock price to fall about $8 following the disclosure.Of the 72 satellites placed in orbit to date, seven have failed. According to Michelle...
CINCINNATI-Convergys Corp., a subsidiary of Cincinnati Bell Inc., filed an amendment to its registration statement related to the initial public offering of Convergys shares.The amended statement proposes to sell 18 million common shares for $17 to $19 each. Convergys granted the underwriters an overallotment...
NEW YORK-The admonition that those who forget the past are condemned to repeat it applies to investors in high-yield bonds, many sold by companies in a variety of wireless telecommunications-related businesses.For junk-bond investors, 1988 should live on in infamy, offering a cautionary tale for...
NEW YORK-Pathnet Inc. hopes to raise $100 million by going public to help finance its goal of becoming a national carrier's carrier in smaller markets by upgrading existing wireless infrastructure to develop a synchronous optical network (SONET) system.Pathnet intends to provide a high-capacity, dedicated...
NEW YORK-Led by dramatic expansion of television, mobile telephony and multimedia services, global satellite industry revenues will skyrocket to $171 billion in 2007 from $38 billion in 1997, according to projections by Merrill Lynch, Pierce, Fenner & Smith Inc., New York.Within the next year...
NEW YORK-Mobile Communications Holdings Inc., Washington, D.C., announced The Boeing Co. is to be the system integrator for the new Ellipso mobile satellite system in a contract valued at more than $1.4 billion.The Ellipso system, which could make its commercial debut as early as...
NEW YORK-Ameritech Corp., Chicago, said it expects total proceeds of $2.1 billion from the sale of its 24.95 percent stake in Telecom Corp. of New Zealand.As a result of the sale, completed earlier this month through a global public offering, Ameritech said it expects...
PICKERING, Ontario, Canada-Clearnet Communications Inc. appointed two underwriting syndicates in connection with concurrent public offerings of senior discount notes due 2008 and Class A nonvoting shares.The underwriting syndicate for the senior discount notes is being led by RBC Dominion Securities Inc., and co-managed by...
NEW YORK-Aliant Communications Inc. said it will use part of the proceeds of a recently completed public debt issue to pay for its purchase of a 50-percent stake in Omaha Cellular General Partnership, which it will then own completely.Aliant, formerly known as Lincoln Telecommunications...
NEW YORK-Ameritech Corp., which said in December it would sell its 24.95 percent stake in Telecom Corp. of New Zealand, announced the structure for the global public offering of 437 million shares.As of late last year, Telecom New Zealand served 1.8 million phone lines...
NEW YORK-Cable & Wireless Communications plc, the London-based international telecommunications conglomerate, sold a $1.8 billion Yankee bond issue March 4, through an underwriting syndicate led by HSBC Securities Inc and Merrill Lynch & Co.The issue was divided into three tranches: $750 million due 2003 and...
