Rich from AT&T sale, McCaw may put $1.1 billion into Nextel

Article Abstract:

Craig O. McCaw, who recently sold his company to AT&T for billions of dollars, is announcing he and his family will invest between $300 million and $1.1 billion into Nextel Communications over the next six years. Nextel had previously been a contender in the wireless communications segment, but recently it has been experiencing financial problems. Under the agreement, McCaw will own 23% of the company, becoming its major shareholder. Nextel is expected to focus its development more narrowly on building private dispatch networks for business customers looking to connect mobile workers. McCaw's announcement sent Nextel shares up by more than 25%. McCaw says he has no interest in re-entering the cellular phone business that brought him his fortune. He plans to offer a new range of specialized voice and data services that will link field workers, including construction crews, truck fleets and airline mechanics.

Planning, Product development, Wireless communications, Wireless network, Wireless LANs, Company business planning, Mobile communication systems, McCaw, Craig O., NEXTEL Communications Inc.

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Court stalls F.C.C. program for women and minorities

Article Abstract:

A federal appeals court has issued an order that bars the FCC from going forth with a planned auction of almost 500 new wireless PCS service licenses to minority- and women-owned companies. The FCC sets aside a number of licenses for smaller businesses and gives particular firms preferences in bidding for the licenses. The appeals court decision does not reject the auction but asks the FCC to wait to hold the auction until a lawsuit filed by a company called Telephone Electronics Corp is decided. The lawsuit charges that the FCC's set-aside program unfairly favors minorities and women over rural-based companies. The FCC may be delayed in its auction for as long as a year, which could lead to financial problems for the companies that had planned to bid on the licenses as well as for set-aside programs in general.

Cases, Telecommunications regulations, United States. Federal Communications Commission, Licensing agreements, Government communications regulation, Litigation, Lawsuit/litigation, Government Activity

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Mannesmann shores up its defenses

Article Abstract:

Mannesmann plans to spin off certain holdings and shore up support from shareholder, Hutchison Whampoa in order to discourage Vodafone AirTouch's hostile bid for the conglomerate. Hutchison will sell Orange PLC to Mannesmann as well as secure a controlling stake. Meanwhile, Vodafone's $127.7 billion bid will be open until January so the company has time to seduce their own investors. German politicians have denounced the hostile bid, which is contrary to the country's tradition, though the government does not seem ready to intervene.

Europe, Asset sales & divestitures, Germany, COMMUNICATION, Communications, Broadcasting and Telecommunications, Management, Mergers, acquisitions and divestments, Company acquisition/merger, Mannesmann AG, Vodafone AirTouch PLC, Hutchison Whampoa Ltd., Esser, Klaus, Corporate anti-takeover measures, Antitakeover strategies

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